|EUR-USD @ 1.4412/18...Support at 1.4390|
|R: 1.4526-55 / 1.4582 / 1.4614|
S: 1.4397-90 / 1.4360 / 1.4269Euro has fallen sharply. Next Support is only being seen at 1.4172 (200-DMA). It has spiked below the Support at 1.4390, but has bounced a bit since then. A further fall should bring the pair further lower 1.43 and even the 200-DMA. But it is very difficult to do anything at the moment as their are good chances of Support at 1.4390 holding as well.
The Projected Max High and Max Low for the day is at 1.4555 and 1.4397 respectively.
|EUR-JPY @ 129.87/90...Supported at 130.30|
|R: 130.30 / 130.67 / 130.93|
S: 129.60 / 128.81 / 128.19The Cross has fallen and has found Support near 129.60. Till this holds, the pair may move up towards 130.30 intra-day. It continues to oscillate around 130 and a +/- 150 bps range around 130 will have to be continued to be allowed for the pair over the rest of the year. This clubbed with some Support in Euro at 1.4390 goes with the view of an intra-day rise towards 130.30.
But things can become bearish overall with Resistance on USD-JPY at 90.20-40 and bearish view of Euro for a fall towards 1.42. But till the 128.50-131.50 holds, let's not look beyond this for the rest of the year.
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