EURUSD

Trading strategy: small short at 1.4080, stop at 1.4140 (0.5% risk), 1st objective at 1.4020, 2nd objective at 1.3960

The euro slid below the $1.40 mark after the Fed announced its monetary policy decision, leaving interest rates unchanged at 0-0.25%, as expected. Euro's decline to 1.3935 overnight has been short lived and it is now back above the 1.4 handle but downside remains in focus and fresh selling may emerge at any time. On the upside, resistance levels may limit gains around 1.4090/00, followed by 1.4150. Support comes around 1.3940 backed by 1.3900 and 1.3800. Short term bearish sentiment is unchanged, and a sustained break above 1.4250/65 is required to confirm a change in momentum studies. Intra-day studies maintain a bearish tone, as well, while below 1.4050. Current exchange rate is 1.4019 @07:15 GMT

Support: 1.3935/50, 1.3900, 1.3800 and 1.3750
Resistance: 1.4050, 1.4100, 1.4130/50, 1.4200/20, 1.4250/70 and 1.4300
Market sentiment: long term - bullish, medium term - slightly bullish, short term - bearish, intra-day - bearish

EURUSD
EURUSD hourly chart 1-28-2010
USD
USD index daily chart 1-28-2010

NZDUSD

Trading strategy: small short at .7150, stop at .7210 (0.5% risk), 1st objective at .7090, 2nd objective at .7030

The New Zealand dollar recovered some lost ground but stays below recently breached .7100 mark which provides the first resistance. Above .7100, .7150/70 is the next region where selling may pick up. Short-term sentiment remains negative and some serious gains, above .7250, are required to confirm that current decline was corrective. Meanwhile, selling minor rallies should be ok. Intra-day bias is slightly bullish and will strengthen if the pair manage to break above .7100. Current exchange rate is .7096 @07:15 GMT

Support: .7020, .7000, .6970, .6900 and .6855
Resistance: .7100, .7150/60, .7200/05 and .7230/50
Market sentiment: long term - bullish, medium term - bullish, short term - bearish, intra-day - slightly bullish

NZDUSD
NZDUSD daily chart 1-28-2010

have a good day!