| EUR/USD |
| Bear pressure is building on support at 1.4762, as the sharp setback off 1.4903 threatens to extend. The rejection of Monday's 16-month high at 1.4903 suggests a deeper corrective setback is due towards the 1.4630/65 area. Regaining ground above 1.4860 is required to open the 1.4903 high again. |
| GBP/USD |
| The corrective setback off last week's 1.6745 has scope to extend to the 1.6575 support area. However, with good support lying just below there at 1.6545, downside risk looks limited. Keeping 1.6575 intact, combined with a break above 1.6721 would open the 1.6745 high again, creating room for projected upside targets at 1.6863 and 1.6889 in the process. |
| USD/JPY |
| Pushes into fresh five-week lows to put pressure on support at 80.70. Monday's setback off 81.69 extends the four-week downtrend off 85.53, and there is scope for sharper weakness towards the 79.75/80.00 area on a clean break below 80.70. A push through 81.28 is required to provide temporary respite, but only above 81.69 would concern USD bears. |
| AUD/USD |
| Corrective weakness off 1.1014 is putting pressure on support at 1.0888, and looking to extend towards 1.0800. However, with good support lying in the 1.0775 area, downside consolidation is expected to be limited. A break above 1.0927 is required to open 1.0955, but only above the latter would re-open the 1.1014 reaction high. Risk Warning:FOREX, which are leveraged products, incur a high level of risk and can result in the loss of all your invested capital. Therefore,FOREX may not be suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, please ensure you understand the risks involved and take into account your level of experience. Seek independent advice if necessary. |
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