Quote of the day: So you think that money is the root of all evil. Have you ever asked what is the root of all money? - Ayn Rand

EURUSD

Intra-day lows have been reached on yesterday's wild price action at 1.4880 as a result of Bernanke's comments that the Fed will conduct the policy in a way to help ensure that the dollar is strong. His attempt was short-lived and failed - the market digested the comments after clearing the weaker stops within the 1.4880-1.4930 region and the euro rallied to as high as 1.5015. Intra-day sentiment is now bearish as the euro is retracing into the lower half of the 1.49 zone but short-term sentiment remains positive as long as 1.4850 is intact. Support is formed today into the 1.4880/00 region, backed by the more important bottom at 1.4850. 1.4770/00 is seen lower, in case of extended downside action. Current quote is 1.4959 @07:00 GMT

Support: 1.4880/00, 1.4820/50 and 1.4770/00
Resistance: 1.5000/15, 1.5050/60 and 1.5100/15

EURUSD

EURUSD 4hrs chart 11-17-2009

GBPUSD

Sterling rallied on yesterday and managed to stabilize above the 1.6800 handle which provides a minor intra-day support now. In case of an extended pullback below the said support, look for a potential bottom forming into the 1.6700-1.6725 region. Another support level is seen below the 1.67 area - at 1.6650 - formed by the rising trend line coming from 1.6260 and also by the 61.8% of 1.6515-1.6875. Short-term studies are bullish and will probably remain so, even in case of a corrective move - as long as support into the 1.6650 region doesn't breach. Current quote is 1.6833 @07:00 GMT

Support: 1.6800, 1.6700/25, 1.6650 and 1.6600
Resistance: 1.6875/00, 1.6950, 1.7000 and 1.7040/50

GBPUSD

GBPUSD 4hrs 11-17-2009

NZDUSD

Kiwi climbed higher on yesterday, breaching the resistance at .7450 - which now provides the first intra-day support level. In case of a deeper correction, stronger support is expected to limit losses into the .7385/00 region. Short-term momentum is bullish while the intra-day studies show minor signs of weakness. Current quote is .7474 @07:00 GMT

Support: .7450, .7400, .7385 and .7300
Resistance: .7500/20, .7550 and .7600

NZDUSD

NZDUSD 4hrs 11-17-2009

Have a great day!