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AUD/USD drops further to as low as 0.9060 in early US session and at this point, intraday bias remains on the downside as long as 0.9213 minor resistance holds. The break of medium term channel support indicates that AUD/USD might have topped out at 0.9404 already. Deeper fall should now…

EUR/USD falls further to as low as 1.4801 in early US session and the break of 1.4807 indicates that fall from 1.5047 is resuming. Intraday bias will remain on the downside for a test on 1.4626 support first. On the upside, above 1.4882 minor resistance will turn intraday bias neutral…

GBP/USD drops to as low as 1.6459 in early US session nd the break of 1.6516 support confirms that rise from 1.5706 has completed at 1.6875 already, with bearish divergence condition in 4 hours MACD. Further decline should now be seen to 1.6250 support first and break will target 1.5706…

USD/CHF’s break of 1.0208 resistance indicates that choppy rise from 1.0034 is resuming. Intraday bias remains on the upside as long as 1.0122 minor support holds and further rise should be seen to 1.0337 resistance first. On the downside, however, below 1.0112 will dampen the immediate bullish view and turn…

At this point, intraday bias in USD/JPY remains on the downside with 89.13 minor resistance intact. Further decline should be seen to 88.00 support first and bring will bring medium term fall resumption to 87.12 low next. On the upside, above 89.13 minor resistance will turn intraday bias neutral and…

I noticed a Reuter’s poll today. All the top banks were asked to provide their guess on just how undervalued the Chinese currency – yuan- was against the US dollar. The average guesstimate was about 20%. That’s about 20% lower than my guess would have been, but no matter. What…

The USD is trading higher supported by deleveraging, investors are reducing risk exposure as equity and commodity markets trade lower, a statement from ECB President Trichet that it is too early to declare the financial crisis over, concern about rising debt levels in the UK and weaker than expected earnings…

Today, as the end of the week is here we see that ECB President Jean-Claude Trichet once again states that the central bank is going to exit the stimulus programs gradually before it triggers inflation on the long run, and this factor is faced by other central banks around the…

The ECB’s omnipresent desire to avoid the pitfalls of inflation caused by excessive money growth caused its president, Jean Claude Trichet to serve up a warning earlier this morning that it must pursue an exit strategy. His words, while not exactly new, turned a mediocre equity market recovery on its…

USD/CAD’s rally extends further to as high as 1.0730 in early US session and intraday bias remains on the upside for 1.0851 resistance first. Break there will confirm that whole rise form 1.0205 has resumed and should target 1.1101 resistance next. On the downside, below 1.0614 minor support will turn…