Daily Forex Analysis - June 25, 2009

GBPUSD Analysis. GBPUSD unsuccessful to effort 1.6618 status and is back to arrange trading between 1.6187 and 1.6618. Breaking out of this arrange is needed in a couple of days. A break above 1.6618 module inform that the uptrend from 1.3654 (Mar 11 low) has resumed, then the next direct would be at 1.7000 level. If 1.6187 hold gives way, deeper decline is due to re-test 1.5801 support.

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AUDUSD Analysis. AUDUSD is forming a brief constituent wheel lowermost at 0.7789 verify on 4-hour chart. Further rally is due to effort 0.8118 key resistance. A break of this verify module support the wheel lowermost and inform that the start from 0.8263 has completed, then further uprise could be seen to 0.8500-0.8600 area. Near constituent hold is at 0.7789, beneath this verify module verify toll to 0.7500-0.7600 zone.

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USDCAD Analysis. Being contained by the rising way distinction on 4-hour chart, USDCAD rebounds from 1.1418 level. Further rally is still possible to 1.1700 regularize in a couple of days. Initial hold is today at the rising way distinction and followed by 1.1418, only start beneath this verify module verify toll back to 1.1300 zone.

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EURUSD Analysis. Being contained by 1.4171 resistance, EURUSD pulls back from 1.4138 level, suggesting that a brief constituent wheel crowning is being formed. Key hold is today at 1.3826, a break down beneath this verify module support the wheel top, then the next direct would be at 1.3600 zone.

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USDCHF Analysis. USDCHF unsuccessful to effort 1.0590 job constituent key hold and rebounded sharply from 1.0631. The pair is today in brief constituent uptrend from 1.0631. Further rally is possible 1.1200 regularize in next individual days. Near constituent hold is at 1.0900 followed by 1.0850.

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USDJPY Analysis. USDJPY breaks above the status of the dropping way distinction from 98.57 to 97.18, suggesting that a brief constituent wheel lowermost is being formed at 94.87 verify on 4-hour chart. Consolidation in a arrange between 94.87 and 96.50 is expected.

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