8 Apr 2015
EUR near-term bearish – Kshitij Consultancy
FXStreet (Barcelona) - Analysts at Kshitij Consultancy, give the technical outlook for FX majors and the USD Index.
Key Quotes
“Dollar Index has moved up higher. 98.28 and 98.78 are two levels to keep an eye on for near term resistances; a break above 98.78 would be very bullish."
“Euro has come down sharply from resistance zone of 1.1024-1.1052 contrary to our expectation of a rise on the upside. Near term is bearish. A slight possibility of a break above 1.1052 mentioned yesterday is negated in the short term.”
“Pound has also fallen while the long term resistance near 1.50-1.51 holds. This is a very crucial resistance which is likely to hold for some time keeping the currency weak.”
“EURGBP has come off from crucial resistance near 0.7378 and while this holds it may be bearish towards 0.722."
“Aussie has been an outperformer among major currencies as RBA kept rates stable. It may see a rise to 0.77-0.78 as mentioned yesterday.”
“Yen has bounced well from immediate channel support near 118.68 as expected. We may see some movement in the 119-122 region in the near term.”
Key Quotes
“Dollar Index has moved up higher. 98.28 and 98.78 are two levels to keep an eye on for near term resistances; a break above 98.78 would be very bullish."
“Euro has come down sharply from resistance zone of 1.1024-1.1052 contrary to our expectation of a rise on the upside. Near term is bearish. A slight possibility of a break above 1.1052 mentioned yesterday is negated in the short term.”
“Pound has also fallen while the long term resistance near 1.50-1.51 holds. This is a very crucial resistance which is likely to hold for some time keeping the currency weak.”
“EURGBP has come off from crucial resistance near 0.7378 and while this holds it may be bearish towards 0.722."
“Aussie has been an outperformer among major currencies as RBA kept rates stable. It may see a rise to 0.77-0.78 as mentioned yesterday.”
“Yen has bounced well from immediate channel support near 118.68 as expected. We may see some movement in the 119-122 region in the near term.”