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20 Apr 2015
Technical outlook for FX majors – Kshitij Consultancy
FXStreet (Barcelona) - The Research Team at Kshitij Consultancy, note that the major currencies are on their way to test key resistances, maintaining a near-term bearish outlook on AUD/USD, and bullish outlook on EUR/USD.
Key Quotes
“Currencies may strengthen against the Dollar over the next couple of sessions before testing crucial resistances which may weaken the currencies in the longer run.”
“Euro is rising in line with our expected near term bullishness and is targeting 1.0900-1.0930 in the near term. But also note that there is a resistance above current levels on the 3-day and weekly charts.”
“Dollar Index has been trading lower since last week and may now test 96.52-96.38 on the downside before again bouncing back.”
“Japanese Yen and Pound have seen some strength but look weak in the near term. 118.30 and 1.423 still remain a good support for the USDJPY and GBPUSD and there is a fair possibility of the currency pair to test these levels. Note that 1.50 is a crucial levels for Pound and while below 1.50, it is bearish.”
“Aussie (0.7807) is also rising sharply towards weekly resistance near 0.79 which if holds may see a fall to 0.78-0.77 levels. Near term is bullish with a longer term bearish view.”
Key Quotes
“Currencies may strengthen against the Dollar over the next couple of sessions before testing crucial resistances which may weaken the currencies in the longer run.”
“Euro is rising in line with our expected near term bullishness and is targeting 1.0900-1.0930 in the near term. But also note that there is a resistance above current levels on the 3-day and weekly charts.”
“Dollar Index has been trading lower since last week and may now test 96.52-96.38 on the downside before again bouncing back.”
“Japanese Yen and Pound have seen some strength but look weak in the near term. 118.30 and 1.423 still remain a good support for the USDJPY and GBPUSD and there is a fair possibility of the currency pair to test these levels. Note that 1.50 is a crucial levels for Pound and while below 1.50, it is bearish.”
“Aussie (0.7807) is also rising sharply towards weekly resistance near 0.79 which if holds may see a fall to 0.78-0.77 levels. Near term is bullish with a longer term bearish view.”