CURRENCY |
MARKET COMMENT |
SHORT TERM
TREND |
6 MON |
1 YR |
| USD/CAD |
- The USD/CAD continued a third straight week of losses ending the week near parity with the USD.
- Support can be found at 0.9951, however, most technials are pushing into overold territory.
- 0.9950 should provide for some strong support in the near term.
- Resistance lies at 1.0145/1.0225.
- The expected trading range for the week should be 0.9950 - 1.0225.
|
Bearish
1.0350 |
1.0550 |
1.015 |
| EUR/USD |
- The EUR/USD turned into a consolidation mode belwo 1.3233 with some sideways trading to close out the week.
- On the upside a break of 1.3244 will target 1.3627 while on the downside a break of 1.2931 will likely move the pair toward the 1.2625 short term bottom.
- The expected trading range for the week is 1.3150 - 1.3550
|
Neutral
1.30 |
1.36 |
1.39 |
| GBP/USD |
- The GBP/USD rose to as high as 1.5582 last week before creating a temporary top there.
- Initial bias for the week is neutral with some consolidation expected.
- On the topside a break of 1.5882 will target a test of 1.6165.
- On the downside a break of 1.5641 will flip bias to the downside and target the 1.5234 support.
- Expected trading range for the week is 1.5700 - 1.6050
|
Bullish
1.585 |
1.595 |
1.615 |
| AUD/USD |
- The AUD/USD extended its rally last week to as high as 1.0793. Further rise is expected as long as the 1.0525 level holds.
- A break of 1.0800 should allow for a test of the 1.1079 high.
- A break of 1.0525 will result in bias turning negative and test 0.9662.
- The expected trading range for the week is 1.0550 - 1.0850
|
Bullish
1.045 |
1.065 |
1.085 |
| NZD/USD |
- The Kiwi has been caught up in the risk on/risk off environment over the last several weeks.
- The pair opened the week at 0.8235 and should trade between 0..8200 - .8600
|
Bullish
0.825 |
0.845 |
0.865 |
