Fx Analysis 02/25/2009

February 25, 2009 by hyiperz

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EURUSD
The Intra-day support is now formed at 1.2800 as the Euro recovered on yesterday, testing offers at 1.2880. If the recovery continues, a sustained break of 1.2990 and 1.3075/90 key resistance will be favored and the uptrend will be confirmed. On the lower side, support backs 1.2800 at 1.2750, 1.2670 and 1.2530. Short-term studies are slightly bullish and will remain so while trading above 1.2750. Current quote is 1.2835 @07:15 GMT

Support levels: 1.2800, 1.2750, 1.2670 and 1.2530.
Resistance levels: 1.2900, 1.2990 and 1.3075/90.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish

AUDUSD
Resistance at .6530 is under pressure and a potential break will favor further gains towards .6590 and .6650. Support emerges at .6480 backed by .6390 and .6330. Intra-day studies are slightly bullish while the daily momentum is about to turn bullish on a potential break above .6590. Current quote is .6505 @07:15 GMT

Support levels: .6480, .6390 and .6330.
Resistance levels: .6530, .6590 and .6650/60
Market sentiment: long-term : bearish, mid-term : bearish , short-term : neutral

EURCHF
The recovery is about to 1.4920 has been short-lived as the EUR pulled back 50 points already but key hourly support is seen at 1.4830. If the said support will hold, daily momentum should regain strength, favoring a breach of 1.4920/50. Important resistance is seen higher, at 1.5010/20 and 1.5100. Current quote is 1.4880 @07:15 GMT

Support levels: 1.4830, 1.4750/60, 1.4700 and 1.4650.
Resistance levels: 1.4920/50, 1.5010/20 and 1.5100.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish

Source : FxStreet

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