Fx Analysis 03/26/2009

March 26, 2009 by hyiperz

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Forex Forecast for EURUSD Currency
The support into the 1.3420 zone has proved to be stable and the Euro recovered on yesterday, surmounting the intra-day resistance on the 1.3600 mark to as high as 1.3650 which was the top of the 200 points rally. Short-term uptrend’s resumption has yet to be confirmed, as yesterday’s rally failed to - not closing above 1.3600, still forming a lower high (below 1.3678 of Tuesday). Daily sentiment remains bullish as long as February’s high is quite far below. On the upside, resistance emerges at 1.3600 then 1.3650/80 and the key 1.3740/50. A sustained break above 1.3740 is needed to fully resume uptrend but key medium term resistance at 1.3855 - 61.8% of 1.4720-1.2455 - will probably limit the upside for now. Current quote is 1.3582 @07:13 GMT

Support levels: 1.3500, 1.3415/30, 1.3330, 1.3240 and 1.3095/00.
Resistance levels: 1.3600, 1.3650/80, 1.3740/50, 1.3800 and 1.3855.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish

Forex Forecast for AUDUSD Currency
The Aussie Dollar holds steady above the .6900 support, orbiting around the .7000 at the time of this writing. Daily momentum is bullish and more upside action is likely on the upcoming days, aiming towards key upside barriers at .7135/50 and .7250/65. Interim resistance is formed at .7090/00. On the downside, minor support is eyed at .6945/50 backed by .6900 and a more important one at .6850. Current quote is .7012 @07:13 GMT

Support levels: .6945/50, .6900, .6850 and .6700.
Resistance levels: .7090/00, .7135 and .7265.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish

Forex Forecast for EURCHF Currency
Downside is under constant pressure this week and fragile support is emerging at 1.5200, only 35 points below current price. A break above 1.5350 is needed to resume uptrend. Interim resistance is seen at 1.5290 while key barrier is formed by the recent high at 1.5445. On the downside, support backs 1.5200 at 1.5150 and 1.5000/10 - median retracement level of the 1.4575-1.5445 upward move. Intra-day studies are bearish at the time of this writing. Current quote is 1.5236 @07:13 GMT

Support levels: 1.5190/00, 1.5150 and 1.5000/10.
Resistance levels: 1.5290/00, 1.5350, 1.5420/50 and 1.5500/30.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish

Source: FxStreet

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