|USD-JPY @ 91.28/31...Might rise further|
|R: 92.10-30 / 92.85-95 / 93.50|
S: 90.90 / 90.65-35 / 89.90Dollar-Yen has broken above the Resistances at the 100-DMA (90.96) and the 21-Week MA (91.12) mentioned earlier which we expected to hold in the US session. If it continues to trade above 91, we might see a further rise towards 92.30 in the coming days. On the downside significant Support is seen in 90.65-35 region which we may expect to hold as the pair is not showing much strength on its downmove now.
|USD-CHF @ 1.0456/60...Mixed|
|R: 1.0480-95 / 1.0535 / 1.0560-70|
S: 1.0440 / 1.0400 / 1.0350Swiss has risen in the US session yesterday and is trading in a narrow range of 1.0445-65 in the Asian session today. The failure to see a strong break below 1.0400 is keeping up the chances of a break above the Resistance in 1.0480-95 region. A strong break above 1.05 might see a rise towards 1.0535-65 during the day. However, if the Resistance in 1.0580-95 continue to hold we might see a test of the Support at 1.0400. A strong break below 1.0400 migth pull it down towards 1.0350/1.0300 which are the next significant Support levels seen below 1.0400. Overall the pair is looking mixed and might trade in a range of 1.0400-0500 for sometime.
|AUD-USD @ 0.8795/99...Immediate Support at 0.8765|
|R: 0.8825 / 0.8870-90 / 0.9030|
S: 0.8765 / 0.8700 / 0.8640Aussie continued to trade below 0.8900 in the US session yesterday and moved down towards 0.8770 breaking below 0.8820 as expected. It has now risen slighlty from the low of 0.8764 and is now trading just below 0.8800. Note 0.8765 is the 61.8% Fibonacci Fan line Support drawn by joining 13-Mar-09 low (0.6304) and 03-Jun-09 high (0.8240). If this Support holds, a strong break above 0.8800 might see a rise towards 0.8870-0.8900 during the day. On the other hand a break below 0.8765 might pull it down towards 0.8700. Rememeber, 0.8700 is the significant Support level seen on the monthlu chart. A strong break below 0.8700 might increase the chances of a further dip towards 0.8550-00
Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.