EURUSD

The euro is grinding higher today, extending Friday's gains into the 2nd half of the 1.49 area. Both short term and intra-day charts are plotting positive momentum as the euro managed to breach above the 50% retracement level of the down leg from 1.5045 to 1.4820 - at 1.4935 and 61.8% respectively at 1.4960. Former intra-day resistance layer into the 1.4910/35 region provides the first support today and may limit downside price action, keeping the uptrend intact. Below the said support, bias returns into the bears' advantage. Current quote is 1.4977 @07:20 GMT

Support: 1.4910/35, 1.4820/50 and 1.4750
Resistance: 1.5000, 1.5020/60 and 1.5100/15

EURUSD

EURUSD hourly chart 11-16-2009

EURUSD

EURUSD 4hrs chart 11-16-2009

GBPUSD

Trading strategy: stand aside

Upside is back in focus today and next objectives are seen into the recent top side between 1.4800 and 1.4840, but until getting that high - keep an eye on the 1.6730 resistance region which is being tested at the time of writing this - a minor resistance is formed here by the falling trend line coming from 1.6840 through 1.6795. Both short-term and intra-day studies are bullish, upside being favored for now. Current quote is 1.6738 @07:20 GMT

Support: 1.6700, 1.6620/50, 1.6600 and 1.6500
Resistance: 1.6730/50, 1.6800, 1.6830/50 and 1.6900

GBPUSD

GBPUSD daily chart 11-16-2009

GBPUSD

GBPUSD 4hrs 11-16-2009

NZDUSD

Last week's top side into the .7450 zone is under pressure as kiwi bounced off support into the .7300 zone - formed by the rising trend line coming from .7080 as seen in the chart below. Both intra-day and short-term studies are bullish and potential pullbacks into the .7360-.7400 zone will be fresh buying opportunities, as upside is likely to remain favored as long as .7300 holds. Current quote is .7437 @07:20 GMT

Support: .7400, .7350/60 and .7300
Resistance: .7450, .7500 and .7550

NZDUSD

NZDUSD 4hrs 11-16-2009

Have a great day!