Wednesday, January 26, 2011

Some signals

AUD/USD: Remains range bound but may soon be slipping back towards support at .9812/04.

NZD/USD: Remains sidelined but with a bearish slant. Should remain below the .7816/42 resistance area.

USD/CAD: Still trades above the May 2008 low at .9820. Below it remains the .9758/11 support zone.

EUR/AUD: A reversal higher is in the making with the resistance area at 1.3924/1.4047 being in focus.

EUR/NZD: Break out of the downtrend channel is bullish but may be capped in the very short term now.

EUR/CAD: Since resistance at 1.3563/94 has been overcome our medium term outlook has been neutralized.

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