Daily FX Market Comment 11/2

Discussion in 'Forex' started by nico3725, Feb 11, 2003.

  1. EUR/USD 1.0730. EUR broadly moved along expected lines & broke the support near 1.0730/25 also this morning. This break has caused further short term weakness which should drag EUR down to 1.0690/85 or 1.0665/60. Minor support is at 1.0705/00. Resistances are at 1.0760 & 1.0775.

    USD/CHF 1.3663. Break of 1.3665/70 is positive for Dollar in short term & it should grind higher to 1.3720/40 now. Supports are at 1.3620 & 1.3595.

    USD/JPY 121.26. Dollar is trading near resistance level at 121.50/55. Short term pictures indicate that 120.85/70 area may offer support for a thrust higher to 121.70/85 & above that to 122.15/25 also.

    GBP/USD 1.6259. No change in view. The 61.8% retracement level of move from 1.6010 to 1.6570 at 1.6225 is still holding. Resistance at 1.6280/1.6300 is expected to contain its short term advances for a push down to 1.6225 or 1.6190/75 now.

    EUR/CHF 1.4661. No change in view. EUR is expected to move within the 1.4630-1.4700 range.

    EUR/JPY 130.10. Support at 129.75 held well yesterday. This level is expected to hold again for one more move higher to 130.60/65.

    EUR/GBP 0.6594. Short term drop to 0.6570 is possible while below 0.6610/15.

    AUD/USD 0.5884. Short term decline should find support near .5870/55 for further range trading. Resistances are at 0.5915 & 0.5935.

    USD/CAD 1.5288. Immediate supports at 1.5255/35 may hold for one more rise to 1.5345/50.

    Have a nice day.
  2. EUR/USD 1.0750. EUR moved along expected lines to test our target near 1.0665 yesterday. As long as it is below immediate resistance at 1.0765/80, it can once more go down to 1.0670/65. Break of 1.0780 will take EUR to 1.0810/15. Support is at 1.0715.

    USD/CHF 1.3645. Dollar tested our target yesterday without much difficulty. While support at 1.3600/1.3595 continues to hold it can try a move higher to 1.3725/50 once more. Break of 1.3595 will yield 1.3560/40.

    USD/JPY 120.77. Dollar went up as expected to test 121.75. Now 120.55/35 area should contain its short term declines for one more thrust higher to 121.75/95 or 122.15/25.

    GBP/USD 1.6198. There is a substantial loss of strength in Cable. Corrective advances are likely run into resistance near 1.6245/75. As this area holds one more drop to 1.6140/1.6100 is looked for.

    EUR/CHF 1.4675. No change in view. EUR is expected to move within the 1.4630-1.4700 range.

    EUR/JPY 129.83.EUR failed ahead of 130.35 itself yesterday. It may move in 129.50-130.35 range for some time.

    EUR/GBP 0.6633. Short term grind higher to 0.6650/60 is possible while above 0.6610/05.

    AUD/USD 0.5920. Sell on break of 0.5905 for 0.5865/50.

    USD/CAD 1.5262. No change in view. Immediate supports at 1.5245/25 may hold for one more rise to 1.5345/50.