Thursday, April 19, 2012

Forex pairs to observe-4.18.2012

Commodity dollars Vs. Usd

Aud.Usd is currently sitting just above strong support levels around 1.0338 area, trying to move further north. If the bulls do indeed take charge, they will be after 1.0467 and 1.0524. Keep in mind there is strong resistance around 1.0430. Nzd.Usd failed to stay above resistance levels not too long ago and the bears managed to bring it back towards the bottom of the channel. The channel lies between 0.8125-0.8150 (Buy Zone) and 0.8225-0.8250 (Sell zone). If support holds, the bulls will be after the top of the channel. If support doesn’t hold, look for further moves south. Usd.Cad is not the prettiest pair to trade at the moment, a lot of aggressive moves up followed by aggressive moves down, so proceed with extra caution trading this pair. This pair is stuck roughly between 0.9883 and 1.0029 with addition support/resistance around 0.9923. At the moment Usd.Cad is sitting between 0.9883 (support) and 0.9923 (resistance) and if the bulls take over, they’ll attempt to push it back above resistance with a target towards the top of the channel. If support doesn’t hold, the bears will be after 0.9859 & 0.9841.

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