Wednesday, January 19, 2011

PAIRS TO WATCH

EUR/USD: Push through 1.3499 December peak secures more robust base into mid-Q1 and points to a challenge to 1.3740/88 targets

USD/JPY: Top reinforced by activity below 82.32/30 and probe of retrace support at 82.00. Risk still lower to 81.55; but only thorough 81.15/80.93 signals a more bearish tone

USD/CHF: Further support erosion points to 61.8% retrace support, .9485. Only through here targets a retest of the .9300 cycle low

NZD/USD: Significant setback from ahead of key .7816/39 targets. Through .7609 warns of a more notable top, with surrender of .7550 confirming

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