ForexCycle @ 2:16 AM, Thursday June 18 2009
GBPUSD Analysis.
GBPUSD stays in the
trading range between 1.6209 and 1.6618. A break above 1.6618 will
indicate that the uptrend from 1.3654 (Mar 11 low) has resumed, then
further rally could be seen to 1.7000 zone. However, below 1.6209
support will take price to 1.5950-1.6000 area.
USDCHF Analysis.
USDCHF drops below 1.0821
support, suggesting range trading between 1.0590 and 1.0986 is
underway. Deeper decline to 1.0700 zone could be seen later today and
rebound is expected before breaking below 1.0650 level.
EURUSD Analysis.
EURUSD breaks above 1.3932
resistance. Further rally to 1.4050-1.4100 area to reach the next cycle
top on 4-hour chart could be seen in a couple of day. However, 1.4171
resistance would more likely be held, and pullback is expected before
breaking above this level.
USDCAD Analysis.
No changed in our view,
USDCAD remains in short term uptrend. Further rally is possible to
1.1500 zone later today. Key support is at 1.1221, only fall below this
level will indicate that the rise from 1.0940 has completed.
AUDUSD Analysis.
Being supported by 0.7827,
AUDUSD consolidates in a range between 0.7850 and 0.8067. Rebound to
0.8150 zone would more likely be seen. Initial support is at 0.7827,
only fall below this level will signal deeper decline to 0.7700-0.7750
area.
USDJPY Analysis.
USDJPY’s downtrend from
98.88 extends to as low as 95.51 level. Further fall is still in favor
and next short term target is at 94.50-95.00 area. Initial resistance
is at 96.00 followed by 96.80, as long as these levels hold, downtrend
will continue.
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