Forex daily market comments Wednesday August 1, 2007
Wednesday August 1, 2007
| 1.3684. Decline should be supported around 1.3666 - 1.3649 zone for rally to above 1.3745. A clear break of 1.3649 will damage this expected rally. | |
| GBP-USD | 2.0313. Strength can extend to 2.0346 or even higher than 2.0382 as declines are expected to find support at 2.0275 or 2.0240. A fall below 2.0167 could turn it bearish. |
| USD-CHF | 1.2011. We prefer to see an attempt to below 1.1990 or below 1.1968 in extension. A clear break of 1.2038 is bullish. |
| USD-JPY | 118.61. Current move should be supported in 118.53 zone for a rise to above 119.90. A break below 117.80 opens the way down. |
| EUR-JPY | 162.31. It looks more likely that it would rise to above 163.06 or 163.40 from 162.18 or 161.63. After which a downside move to below 160.95 is expected. |
| EUR-GBP | 0.6736. There is bearish potential for a fall to 0.6719 while 0.6742 - 0.6751 resist. After this fall a recovery up to 0.6751 or 0.6760 is expected. |
| EUR-CHF | 1.6436. Prefer a fall to 1.6434 or 1.6403. Then a correction to 1.6480 is anticipated. A clear break of 1.6371 is again bearish. |
| AUD-USD | 0.8516. It looks more likely that it would rise to above 0.8566 or 0.8584 from 0.8513 or 0.8479. After which a downside move to below 0.8442 is expected. |
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