Technical Analysis

EURO
 
The European currency depreciated in the first trading session to hit the major support level at 1.4320s, which is considered the first retracement level; but was able to later incline to minimize its losses. Today the Euro will move in the upside direction until the significant resistance level at 1.4500s.

The trading range for today might be between the key resistance level at 1.4540 and the key support level at 1.4360.

The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930

GBP
 
The British pound yesterday fluctuated with tendency towards the downside however it managed to reverse back in the last session to close in a bullish form confirming some bullish signals. Hence we expect the pound today to reach to the key resistance levels at 2.0340s.

The trading range for today might be between the key resistance level at 2.0400 and the key support level at 2.0100.

The general trend is up as far as 1.9800 remains intact targets now at 2.0940 and 2.1050

JPY
 
The dollar against the Japanese yen yesterday inclined to the upside target at the important resistance level at 113.50s in the early morning to cover it and replaced it with a strong bearish drop, due to the absence of the US dollar strength, hitting the critical support level at 112.80s. Today the currency is expected to progress towards the downside as it closed below the significant resistance at 113.50.

The trading range for today will be between the key resistance at 115.40 and the key support at 113.35.

The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.

CHF 
 
The dollar against the SWISS Frank yesterday fluctuated to move to the upside a little bit but then managed to end the trading session with tendency to the downside reflecting the weakness of the US dollar. Since the currency is limited in the downside channel, the SWISS Frank remains pressured by bearish signals for today.

The trading range for today will be between the key resistances at 1.1600 the key support at 1.1400.

The general trend is down as far as 1.2020 remains intact, targets at 1.1445 and 1.1230.

CAD
 
The dollar against the Canadian yesterday tended to move in a bearish move despite heading higher in the first session in the morning. However, today and since the pair toughed the key support at 1.0040s it might keep the move to the downside again as long as it couldn't breach the major resistance at 1.0120s.

The trading range for today will be between the key resistance at 1.0180 and the key support at 0.9930.

The general trend is down as far as 1.0450 remains intact, targets will be 0.9000 at and 0.8880.