From the FXWW Chatroom: EUR Levels EURUSD: Support -1.1770 / 1.1725 / 1.1680 Resistance – 1.1800 / 1.1865 / 1.1910
Comment: US data on Friday was pretty solid and with the markets bearish USD positioning we have seen quite a decent relief rally, EURUSD one of probably the most crowded trades in G10 space has been hit the hardest despite the initial muted reaction. We have seen decent dip buying interest sub 1.18 handle, but so far the greenback is holding in alright. For today looking to play the range – 1.1750 – 1.1830 with a 30 pip stop either way.
CHF Levels USDCHF: Support – 0.9710/0.9670 Resistance – 0.9770/0.9810
Levels EURCHF: Support – 1.1460/1.1420 Resistance – 1.1500/1.1540
Comment: Both CHF pairs continue to consolidate after last Fridays move still and view remains unchanged that I will fade the cross rally above 1.15 for now with stop above previous highs 1.1540. USDCHF should still see good resistance around 0.9760 but very little interest in the market at the moment and so tight ranges expected.
AUD Levels AUDUSD: Support – 0.7900-10, 0.7870-80 Resistance – 0.7940-50, 0.7970-80
Comment: Listelsss conditions overnight void of data or news events. Overall, think the pair should be sold on rallies between 0.7940-60, re-evaluate above 0.7980-90, downside limited at this stage to 0.7880-90. Need some kind of a trigger and, at this stage, seesm to be zero stress out there.
CAD Levels USDCAD Supports – 1.2630, 1.2600, 1.2555 Resistance – 1.2690, 1.2700, 1.2740.
Comment: CAD – USDCAD cleared the resistance at 1.2670 and continued to 1.2700. In combination with crude turning a tad sluggish and the Greenback gaining attention USDCAD had a quick move through 1.2700 to highs at 1.2715. There was not initial follow-through and the pair quickly returned to sub 1.2700 levels. We had the correction from 1.2400 now and I think we could spend some time in a 1.2640/90 range
for some time now. No strong bias at current levels.
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