Forex daily market comments Friday August 24, 2007
Friday August 24, 2007
| 1.3565. Current rise should end around 1.3562 or 1.3591. Objectives of this down move are 1.3537 or 1.3508. A rise above 1.3616 is again bullish. | |
| GBP-USD | 2.0058. A correction down to 1.9952 followed buy a move up to 2.0076 or 2.0129. A break above 2.0200 would accelerate this bullish move. |
| USD-CHF | 1.2072. Decline should be supported around 1.2045 - 1.2018 zone for rally to above 1.2132. A clear break of 1.2018 will damage this expected rally. |
| USD-JPY | 116.19. Resistances lie around 116.66 and 118.04. It should test lower towards 115.28 zone. A clear break of 116.14 would be bearish. |
| EUR-GBP | 0.6761. Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.6751 or 0.6744. Major support is clustered around 0.6726 limit. |
| EUR-CHF | 1.6376. Should test support at 1.6336 while below 1.6376. If support at 1.6336 holds it can rise up to1.6418, if not it should fall to below 1.6295 zone. |
| AUD-USD | 0.8210. Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8297 or 0.8315 if support around 0.8164 hold. After which a pullback to 0.8164 - 0.8138 zone is possible. |
| USD-CAD | 1.0531. It is likely to attempt to go below 1.0386 while below 1.0531 - 1.0546 area. Rise above 1.0619 would dampen this bearish expectation. |
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