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.
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.
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.
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 â€“ 115.70 zone should hold near term. Any break below 114.00 should open for a test of 113.62 rising support.
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.
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.
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.
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)
Rainerâ€™s Astrological Column: (all times in GMT)
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