Forex daily market comments Tuesday August 21, 2007
Tuesday August 21, 2007
| 1.3474. Decline should be supported around 1.3453 - 1.3433 zone for rally to above 1.3529. A clear break of 1.3433 will damage this expected rally. | |
| GBP-USD | 1.9877. It should trade lower to 1.9718. Resistances are at 1.9850 and 1.9890. A break of 1.9929 is bullish confirmed by a close above 1.9959 limit. |
| USD-CHF | 1.2058. It may meet resistance in 1.2058 - 1.2066 zone for a drift down to below 1.2026 zone. |
| USD-JPY | 114.89. Currently uptrend should end around 115.42 - 115.7 area. A correction down to below 113.88 is expected. A rise above 116.51 will abort the expected correction. |
| EUR-JPY | 154.80. While below 156.05 it is more likely to fall further towards 154.08 or 153.46. Premature rise above 156.05 could see it rising above 157.29 zone. |
| EUR-GBP | 0.6778. There are initial signs of a good corrective recovery towards 0.6802 or even 0.6810. Supports at 0.6778 and 0.6761 zone. |
| EUR-CHF | 1.6247. An attempt to below 1.6216 or below 1.6186 in extension is preferred. A clear break of 1.6278 is bullish. |
| AUD-USD | 0.8062. Current up-move should be over between 0.8078 and 0.8015. A correction down to 0.7813 is anticipated. A break of 0.8140 is bullish. |
| USD-CAD | 1.0552. It may meet resistance in 1.0552 - 1.0570 zone for a drift down to 1.0497 zone, after which bounce to 1.059 is anticipated. |
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