The key level remains 1.4535 level, which is equivalent to the USD/DEM Aug 95 low. Tested this level two times on Friday and held 1.4450 rising support yesterday, which most likely sets up another test of the level today.


Res 3

Res 21.4600

Res 11.4535

Sup 11.4450

Sup 21.4400

Sup 31.4360

Key resistance today1.4535

Key support today1.4450

Favoured strategy today:Bullish above 1.4450



Took out the reaction high of 2.0653 (Jul 06 high) yesterday and next point to watch is 2.0728 overhead resistance. Looking at longer-term charts the next big resistance on the upside is the 1978 yearly high at 2.0980.


Res 3

Res 22.1350

Res 12.0980

Sup 12.0780

Sup 22.0750

Sup 32.0653

Key resistance today2.0980

Key support today2.0653

Favoured strategy today:Bullish above 2.0780


Bearish momentum below 1.1624 resistance today and key support is 1.1481 2005 low and a break below this level opens for an extension towards 2004 low at 1.1287.


Res 31.1714

Res 21.1624

Res 11.1584

Sup 11.1481

Sup 21.1390

Sup 31.1287

Key resistance today1.1624

Key support today1.1481

Favoured strategy today:Bearish below 1.1624



The weak USD should theme should limit the potential on the upside for now and 115.20 – 115.70 zone should hold near term. Any break below 114.00 should open for a test of 113.62 rising support.


Res 3116.05

Res 2115.70

Res 1115.20

Sup 1114.00

Sup 2113.60

Sup 3113.20

Key resistance today115.20

Key support today114.00

Favoured strategy today:Bearish below 115.20


Key resistance remains 167.70 for now and outlook is bullish above 164.92 today.


Res 3168.93

Res 2167.70

Res 1166.95

Sup 1164.92

Sup 2163.90

Sup 3162.00

Key resistance today167.70

Key support today164.92

Favoured strategy today:Bullish above 164.92


Looks like a possible test of the 0.7000 level (upper end of the recent range) near term as it found good support at 0.6918 last week.


Res 30.7100

Res 20.7050

Res 10.7019

Sup 10.6936

Sup 20.6918

Sup 30.6893

Key resistance today0.7019

Key support today0.6918

Favoured strategy today:Neutral



Bearish below 0.9386 resistance today and the next key support level is 0.9000. Keep an eye on oil prices for direction in CAD.


Res 30.9631

Res 20.9520

Res 10.9386

Sup 10.9200

Sup 20.9100

Sup 30.9000

Key resistance today0.9386

Key support today0.9000

Favoured strategy today:Bearish below 0.9386

Major events today (GMT)

09:00EMU PMI Services (Oct)

10:00EMU Retail Sales (Sep)

17:30Bernanke speaks

Rainer’s Astrological Column: (all times in GMT)


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