FOREX FORECASTS - Mar. 25.2009

Daily Techical Outlook − Wednesday 03.25.2009
Wed, Mar 25 2009, 07:12 GMT

EURUSD

The Euro continued to retrace on yesterday, testing bids into the 1.3430 zone, switching focus towards bearish objective at 1.3330. Minor support is formed into the 1.3415/30 zone backed by the more important barriers at 1.3330, 1.3240 and 1.3095/00 - February's top - lower. On potential rallies, the Euro will face resistance at 1.3600 then higher, at 1.3740/50 and 1.3855. Downside will probably stay under pressure for now and a break above 1.3600 is needed to resume uptrend. Intra-day studies are bearish at the time of this writing. Current quote is 1.3473 @07:10 GMT

Support levels: 1.3415/30, 1.3330, 1.3240 and 1.3095/00.
Resistance levels: 1.3600, 1.3740/50, 1.3800 and 1.3855.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish

AUDUSD

The .6950 intra-day support is under pressure at the time of this writing but the daily sentiment remains bullish as there is enough room on the downside for an extended correction. Below .6940/50, subsequent downside barriers are seen at .6900, .6850 - February's high - and .6700 which has to remain stable in order to maintain the short-term bullish structure intact. Intra-day momentum is bearish at the time of this report. Current quote is .6966 @07:10 GMT

Support levels: .6945/50, .6850 and .6700.
Resistance levels: .7000, .7100, .7135 and .7265.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish

EURCHF

The Euro continues to advance lower vs the Swiss Franc, testing the interim support on the 1.5200 handle. Below 1.5200, next important objective emerges at 1.5010 - the 50% retracement of the 1.4575-1.5445 up leg. On the upside, resistance starts at 1.5290/00 followed by 1.5400 and 1.5420/50. Above 1.5290, uptrend resumes. Downtrend is slightly favored for now. Current quote is 1.5240 @07:10 GMT

Support levels: 1.5200, 1.5150/90 and 1.5000/10.
Resistance levels: 1.5290/00, 1.5420/50, 1.5500/30 and 1.5590.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish


Intraday Forex Signal by AceTrader - GBP/USD

Updating time : 25 Mar 2009 06:41 GMT

Rate: 1.4676

As cable has rebounded after finding renewed
buying abv intra-day sup 1.4636 (Asia), suggesting
as long as this lvl holds, consolidation with mild
upside bias is seen but break of 1.4720/25 needed
to confirm correction fm 1.4780 has ended, 1.4750.

Buy dips with stop as indicated, only below 1.
4615/22 wud abort n signal top formed, 1.4585/90...

Range Forecast
1.4655 / 1.4690

Resistance/Support
R: 1.4720/1.4780/1.4836
S: 1.4636/1.4586/1.4550