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AUD/USD edged to new 2009 high of 0.9368 last week but lost some momentum since then. Nevertheless, subsequent retreat was contained by 4 hours 55 EMA and AUD/USD rebounded strongly. The development argues that recent rally in AUD/USD is not over yet. Initial bias is mildly on the upside this…

USD/CAD dipped further to 1.0416 last week and recovered mildly since then. As the recovery was limited below 4 hours 55 EMA and 1.0593 resistance, there is no confirmation of reversal yet. Initial bias remains neutral this week. Below 1.0416 will bring fall resumption towards 1.0205 low next. On the…

EUR/GBP’s rebound was limited at 0.9064 last week and weakened again. The development argues that correction from 0.9410 is still in progress. Initial bias will remain on the downside this week and bring of 0.8897 will bring fall resumption to 0.8704/8837 support zone. Nevertheless, in such case, strong support should…

EUR/CHF continues to engage in choppy sideway trading last week. Recent choppy fall should still continue as long as near term trend line resistance holds (now at 1.5128). A break below 1.5706 will target 1.5007 key support next. But after all, downside is expected to be contained above this 1.5007…

EUR/JPY’s break of 133.19 minor support last week indicates that recovery from 131.56 should have completed at 135.68 already. Initial bias will be on the downside this week for 131.56 first. Break there will confirm that whole fall from 138.47 has resumed and should target 129.02 support next. On the…

GBP/JPY was a touch softer last week but after all, it’s still bounded in familiar range. Nevertheless, we’re slightly favoring the bearish case that rebound from 139.69 has completed at 153.21 already. Initial bias is mildly on the downside this week and break of 148.23 minor support will target 146.36…

The dollar fell on Friday as risk sentiment and US stocks rose. US trade deficit widened more than anticipated on strong import growth and US consumer confidence unexpectedly fell. The S&P 500 rose 6.24 to 1,093.48. The yen was supported by yuan revaluation speculation. The euro rose on Q3 GDP…

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In quiet trade, the EURUSD peaked just above the 1.4933 target and is now back down testing support at the 200 hour MA.  The level comes in at the 1.4894 and I would expect buyers against the level.  The market is likely to drift into the close of the day and the week.

The USDCHF has been involved in the USD$ selling this afternoon, but has been slowed by the 100 hour MA. The level comes in at the 1.0100 level.  The low reached 1.0101.  I would expect to see continued buyers against the level with stops on a move below.