Daily Forex Analysis - June 12, 2009

EURUSD Analysis. EURUSD breaks above 1.4143 resistance, suggesting that the short constituent uptrend from 1.3804 has resumed. Further rally to 1.4200-1.4250 Atlantic is due after today, and consolidation is due before breaking above 1.4338 preceding high resistance. Near constituent hold is at the rising trend line on 4-hour chart now at 1.3970, a clear fortuity beneath the trend line hold module verify toll backwards to re-test 1.3804 support.

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USDCAD Analysis. Being contained by 1.0928 support, USDCAD moves sideways in a arrange between 1.0928 and 1.1165. Drop down to effort 1.0784 preceding low hold would more likely be seen after today, and a fortuity beneath 1.0928 module confirm much case.

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GBPUSD Analysis. GBPUSD’s uptrend from 1.5801extends to 1.6618 level. Further rise to effort 1.6662 could be seen after today. A fortuity above this verify module inform that the medium constituent uptrend from 1.3654 (Mar 11 low) has resumed. Near constituent hold is at 1.6450 followed by 1.6240. Only drop beneath 1.6240 verify module verify toll backwards to arrange trading between 1.5801 and 1.6662.

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AUDUSD Analysis. AUDUSD’s short constituent uptrend extends to 0.8236 level. Further rally could be seen to effort 0.8263 preceding high resistance. A fortuity above this verify module inform that the medium constituent uptrend from 0.6284 has resumed, and then the incoming target is at 0.8500 zone. Near constituent hold is at 0.8050, only fortuity beneath this verify module verify toll backwards to 0.7850-0.7900 area.

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USDCHF Analysis. USDCHF is moving to effort 1.0590 preceding low support. A fortuity beneath this verify module inform that the medium constituent downtrend from 1.1740 has resumed, and deeper decline could be seen to 1.0400 zone. Near constituent status is at the falling trend line on 4-hour chart now at 1.0805, and key status is settled at 1.0857.

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USDJPY Analysis. USDJPY traded in a arrange between 97.08 and 98.88 for several days. Pull down to effort 97.08 hold would more likely be seen after today. A fortuity down beneath this verify module inform that the downtrend from 98.88 has resumed, and then deeper decline could be seen to 95.00-95.50 area.

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