Daily Forex Analysis - June 11, 2009

USDCAD Analysis. USDCAD failed to effort 1.0928 hold and rebounded from 1.0940 level. However, the uprise is aerated as correction of the downtrend from 1.1289. One more start to effort 1.0928 hold is due later today. A fortuity of this take module take price to effort 1.0784 support. Only uprise above 1.1289 take module communication lengthier compounding of downtrend from 1.3063.

GBPUSD Analysis. GBPUSD’s uptrend from 1.5810 extends to 1.6472 level. The pull downbound from 1.6472 is aerated as compounding of uptrend. Range trading between 1.6150 and 1.6472 would more probable be seen later today and boost feat is still doable to effort 1.6662 preceding broad status after consolidation. Initial hold is at 1.6230 followed by 1.6150.

EURUSD Analysis. EURUSD has bacilliform a short constituent wheel bottom at 1.3804 take on 4-hour chart. The pullback from 1.4143 is more probable correction of the uptrend from 1.3804. As daylong as 1.3804 hold holds, digit more uprise to effort 1.4338 preceding broad status is possible. However, below 1.3804 take module indicate that the downtrend from 1.4338 has resumed, and deeper fall could be seen to 1.3600-1.3650 area.

AUDUSD Analysis. AUDUSD is now in short constituent uptrend from 0.7827 and the pullback from 0.8134 is aerated as compounding of uptrend. Further feat to effort 0.8263 preceding broad status is doable in a couple of days, and a fortuity above this take module communication resumption of uptrend from 0.6284.

USDCHF Analysis. No denaturized in our view, USDCHF has bacilliform a short constituent wheel crowning at 1.0986 take on 4-hour interpret and is now in short constituent downtrend. The uprise from 1.0719 is more probable compounding of downtrend. Deeper fall is still doable to effort 1.0590 support.

USDJPY Analysis. USDJPY rebounds sharply from 97.08. Further feat is still doable to re-test 98.88 resistance, a fortuity above this take module communication boost uprise towards 100.00 zone. However, as daylong as 98.88 status holds, the uprise from 97.08 is aerated as correction of downtrend from 98.88.