Daily Forex Analysis - July 21, 2009

GBPUSD Analysis. GBPUSD break above 1.6480 resistance. Further rally is today in favor and incoming direct is to effort 1.6743 preceding high resistance, a break above this verify module declare that the uptrend from 1.3654 has resumed, then boost rally could be seen to 1.7000 zone. Near constituent support is at 1.6400, and key support is at 1.6265, a break downbound below 1.6265 verify module indicate that the rise from 1.5984 has completed, and then boost fall is due to 1.6050-1.6100 area.

20090721_gbpusd_1

AUDUSD Analysis. AUDUSD breaks above 0.8155 resistance, suggesting that the medium constituent uptrend from 0.6248 has resumed. Further rally is today in favor and incoming direct is to effort 0.8263 resistance. Near constituent support is at 0.8055, as long as this verify holds, the brief constituent uptrend from 0.7703 module continue.

20090721_audusd_1

USDJPY Analysis. USDJPY strength be forming a brief constituent wheel top at 94.78 verify on 4-hour chart. Deeper fall to effort 93.25 could be seen later today, a break below this verify module support the wheel top. Near constituent status is today at 94.78, only rise above this verify could verify price to 96.00 zone.

20090721_usdjpy_1

EURUSD Analysis. EURUSD breaks above 1.4197 resistance. However, the incoming brief constituent wheel top is nearing, pullback is due before breaking above 1.4338 preceding high resistance. Near constituent support is at 1.4120, and key support is at 1.4056, below this verify module declare that a wheel top has been formed, then deeper fall could be seen to 1.3850 zone.

20090721_eurusd_1

USDCAD Analysis. USDCAD’s downtrend from 1.1723 extends boost to as low as 1.1018 level. As long as 1.1223 status holds, deeper fall is still possible and incoming direct could be at 1.0950 level. Initial status is at 1.1100, and key status is at 1.1223, only rise above this verify module verify price back to 1.1300 zone.

20090721_usdcad_1

USDCHF Analysis. No denaturized in our view, USDCHF is in range trading between 1.0590 and 1.1021. Moving sideways without trend in the range is due to follow. One more rise above 1.1021 would more likely be seen after the sideways consolidation.

20090721_usdchf_1