5 January Daily quotes report and recommended actions
EURUSD
Downside is under pressure while the Euro trades below the 1.4 mark. Intra-day support is seen at 1.3830 backed by key support at 1.3640 formed by the 50% retracement of the 1.2550-1.4733 move. Daily studies are slightly bearish while the hourlies are mixed at the time of this writing. A sustained break of 1.4000 is needed to signal a resume of the uptrend and aim towards next barriers at 1.4095 and 1.4220. Current quote is 1.3920 @07:40 GMT
Support levels: 1.3840, 1.3640 and 1.3385.
Resistance levels: 1.4000, 1.4095 and 1.4220.
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
AUDUSD
Important support is now formed on the .7000 handle while key resistance is seen 130 points higher at .7260, formed by the 50% retracement of the .8517-.6005 decline. The daily studies are bullish and Aussie Dollar will most likely continue to climb towards the .7500 region during the upcoming weeks. Hourly studies are neutral. Current quote is .7129 @07:40 GMT
Support levels: .7100, .7000 and .6915.
Resistance levels: .7260, .7400 and .7560.
Market sentiment: long-term : bearish, mid-term : slightly bullish , short-term : bullish
EURCHF
The Euro is losing ground versus the Swiss Franc, trading a bit below the 1.5 mark. Minor support is seen at 1.4900 backed by a stronger one at 1.4760. On the upside, resistance starts at 1.5000 followed by 1.5090 and 1.5170/85. Hourly studies are mixed at the time of this report. Current quote is 1.4978 @07:40 GMT
Support levels: 1.4900, 1.4760 and 1.4500.
Resistance levels: 1.5000/25, 1.5090 and 1.5170/85.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
