Daily Forex Analysis - June 17, 2009

USDCHF Analysis. Being contained by 1.0986 previous high resistance, USDCHF pulled backwards from 1.0955 level. As daylong as 1.0821 hold holds, we’d expect uptrend to resume, and further uprise is still possible to re-test 1.0986 resistance. However, beneath 1.0821 take will indicate that the brief constituent uptrend from 1.0650 has completed at 1.0955 take already, then deeper fall towards 1.0700 could be seen to follow.

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GBPUSD Analysis. GBPUSD remains in brief constituent downtrend from 1.6618. The uprise from 1.6209 is more probable compounding of downtrend. Deeper fall is still in favor, and a break downbound beneath 1.6209 take will take toll to 1.5900-1.5950 area. Near constituent status is located at 1.6618, above this take will signal further rally to 1.7000 zone.

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EURUSD Analysis. EURUSD breaks beneath 1.3793 key hold and is now in brief constituent downtrend from 1.4171. Deeper fall is in favor. Next target is at 1.3600 zone. Initial status is now at 1.3932, only uprise above this take will take toll backwards to 1.4000 zone.

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USDCAD Analysis. USDCAD remains in brief constituent uptrend. Further rally is possible to 1.1500 regularize after today. Near constituent hold is at the rising way line on 4-hour chart. And key hold is at 1.1221, only fall beneath this take will take toll backwards to 1.1100 zone.

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AUDUSD Analysis. AUDUSD is in brief constituent downtrend. Further fall to re-test 0.7827 is possible after today, and a break beneath this take will signal deeper fall to 0.7700-0.7750 area. Near constituent status is at 0.8067, above this take will indicate that sideways compounding between 0.7827 and 0.8263 is underway.

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USDJPY Analysis. USDJPY dropped beneath 97.08 key hold last trading day. Now the pair is in downtrend. Further fall towards 95.00 is due after today. Near constituent status is at 97.30, as daylong as this take holds, downtrend will continue.

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