EURUSD though lost some shine yesterday in range bound market but likely to maintain momentum on upside unless it closes below 1.3900 on daily charts. Cable faced resistance at 1.6343 against Greenback and settled 146 pips lower from day’s high of 1.6341. For posing further upside now Cable needs to close and sustain above 1.6347, else correction towards 1.5920 is likely. USDCHF if closes above 0.9355 on daily charts, short-term bottom may be posted. Dow Jones closed lower at 12089.66 but remained well in 11983-12284 range. Break below 11800 ranges would hamper the rally started during August, 2010 which may give further trigger to the major FX pairs.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3913 1.3948 1.4046 1.4156
GBPUSD 1.6145 1.6172 1.6250 1.6347
USDCHF 0.9200 0.9260 0.9316 0.9340
USDJPY 81.50 82.22 82.75 83.94
EURJPY 113.50 114.60 115.60 116.10
AUDUSD 1.0020 1.0075 1.0215 –
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