
Current level - 1.3470
The pair is in a broad consolidation pattern below 1.4580 resistancearea and current sell-off from 1.4550 is expected to be the final slideto complete that pattern. Technical indicators on the larger frames areneutral and trading is situated betweenthe 50 and 200 dailySMAs,currently projected at 1.4301 and 1.4020.The consolidation pattern below 1.3440 bottomed at 1.3258 and anice rally took the pair up to 1.3532 local high. Current slide below1.3532 is corrective and precedes next leg upwards, to 1.3567 and1.3660. Important support can be spotted around 1.3420 area.
| 1.3567 | 1.3670 | 1.3860 | 1.3950 |
| 1.3420 | 1.3258 | 1.3145 | 1.2870 |
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Current level - 77.68
The overall downtrend continues to be intact, aiming at new historicallows below 75.95. Technical indicators are still descending and crucialresistance on the daily frame is 80.20.Yesterday's minor sell-off to 77.29 is now being corrected and myoutlook remains bearish for 76.83. Crucial on the upside is 78.15.
| 78.15 | 78.59 | 78.59 | 81.50 |
| 77.29 | 76.50 | 75.75 | 74.20 |
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Current level - 1.5712
The pair is in a downtrend from 1.6616 high. Technical indicators aredescending and trading is situated below the50- and 200-day SMA, currently projected at 1.6209 and 1.6098.As expected, the pair broke through 1.5580 intraday resistance andwe witnessed a massive rally, all the way up to 1.5780. Current slidefrom 1.5780 is by all means a corrective one and with the reliablesupport at 1.5638 the outlook remains bullish for 1.5880 majorresistance.
| 1.5780 | 1.5888 | 1.5888 | 1.6168 |
| 1.5638 | 1.5526 | 1.5330 | 1.5270 |
Source http://www.fxstreet.com/technical/analysis-reports/forex-economic-analysis/2011-12-01.html