Daily Forex Analysis - June 18, 2009

GBPUSD Analysis. GBPUSD stays in the trading arrange between 1.6209 and 1.6618. A break above 1.6618 module indicate that the uptrend from 1.3654 (Mar 11 low) has resumed, then boost feat could be seen to 1.7000 zone. However, beneath 1.6209 support module take price to 1.5950-1.6000 area.

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USDCHF Analysis. USDCHF drops beneath 1.0821 support, suggesting arrange trading between 1.0590 and 1.0986 is underway. Deeper start to 1.0700 regularize could be seen after today and rebound is expected before breaking beneath 1.0650 level.

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EURUSD Analysis. EURUSD breaks above 1.3932 resistance. Further feat to 1.4050-1.4100 Atlantic to accomplish the next cycle top on 4-hour chart could be seen in a couple of day. However, 1.4171 status would more probable be held, and pullback is expected before breaking above this level.

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USDCAD Analysis. No changed in our view, USDCAD remains in short term uptrend. Further feat is possible to 1.1500 regularize after today. Key support is at 1.1221, only start beneath this take module indicate that the uprise from 1.0940 has completed.

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AUDUSD Analysis. Being based by 0.7827, AUDUSD consolidates in a arrange between 0.7850 and 0.8067. Rebound to 0.8150 regularize would more probable be seen. Initial support is at 0.7827, only start beneath this take module communication deeper start to 0.7700-0.7750 area.

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USDJPY Analysis. USDJPY’s downtrend from 98.88 extends to as low as 95.51 level. Further start is still in favor and next short term target is at 94.50-95.00 area. Initial status is at 96.00 followed by 96.80, as long as these levels hold, downtrend module continue.

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