Daily Forex Analysis - June 16, 2009

USDCHF Analysis. USDCHF breaks above 1.0857 status and is today in short constituent uptrend. Further rally is expected to test 1.0986 medium constituent key resistance, a fortuity above this take module indicate that the downtrend from 1.1740 (Apr 20 high) has complete at 1.0590 take already, and then the following uptrend module take toll to 1.1150-1.1200 area. Initial hold is at 1.0865, as long as this take holds, we’d wait the short constituent uptrend from 1.0650 to continue.

GBPUSD Analysis. GBPUSD breaks below 1.6240 support. Deeper fall is today in favor and the target would be at 1.5900 zone. Initial status is at 1.6330 followed by 1.6435, as long as these levels hold, the short constituent downtrend from 1.6618 module continue.

EURUSD Analysis. EURUSD breaks below 1.3793 key support, suggesting that the uptrend from 1.2884 has complete at 1.4338 take already. Now the pair is in downtrend. Further fall towards 1.3500 is expected in a couple of days. Initial status is at 1.3830 followed by 1.3890, as long as 1.3890 status holds, we’d wait the short constituent downtrend from 1.4171 to continue.

USDCAD Analysis. USDCAD breaks above 1.1289 previous broad resistance. The pair is today in short constituent uptrend. Further rise is expected to 1.6000 regularize in next several days. Initial hold is at 1.1260, as long as this take holds, uptrend module continue.

AUDUSD Analysis. AUDUSD breaks below 0.7967 support, suggesting deeper fall to re-test 0.7827 medium constituent key support, a fortuity down below this take module indicate that the uptrend from 0.6952 (Apr 20 low) has complete at 0.8263 take already. Near constituent status is at 0.7985 followed by 0.8045.

USDJPY Analysis. USDJPY stays in the trading range between 97.08 and 98.88. attorney status is today at 98.88, a fortuity above this take module signal further rally to 100.00 level. attorney hold is at 97.08, below this take module indicate that the uptrend from 93.85 has complete at 98.88 already, and the following downtrend module take toll to 95.00 zone.