USDJPY: Having continued to maintain below the 123.74/99 zone and weakening on Tuesday, USDJPY corrective pullback risk remains in place. On the downside, support comes in at the 122.50 level where a break if seen will aim at the 122.00 level.
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GOLD: The commodity closed strongly higher the past week leaving risk higher but beware of a pullback in the new week. On the downside, support comes in at the 1,300.00 level
USDCAD remains in a consolidation mode having continued to trade in a range below its key resistance zone at 1.3352. A break either way must occur to trigger directional moves
USDCHF: With the pair losing upside momentum to close on a rejection candle the past week. This has set the pair up for a move lower in the new week. On the downside, support lies at the 0.9700 level.
EURUSD: Having EURUSD closed higher on Wednesday, it could face further upside. This development if seen will aim at its key overhead resistance at 1.1130 zone.
With USDCAD seen taking back its intra day gains during Monday trading session, risk of more weakness is now envisaged. Resistance resides at the 1.3212 level where a break will target the 1.3250 level.
This is our latest outlook on NZDUSD. We look for more weakness to occur in this currency pair in the days ahead. With NZDUSD remaining weak and vulnerable to the downside , further weakness is expected. Support lies at the 0.6700 level where a break will aim at the 0.6650 level.
This is our latest outlook on Crude Oil. The commodity extended its weakness on Friday to close the week lower. It also reversed most of its previous week gains. This has turned risk to the 43.19 zone
GBPUSD targets further price build up following its temporary bottom on Wednesday. It looks to extend its recovery towards the 1.5196/99 zone. leaving risk of further move higher.
With USDCHF selling off strongly the past week, a follow-through lower is envisaged in the new week. On the downside, support comes in at the 0.9400 level.
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EURGBP- The cross continues to maintain its downside vulnerability selling off sharply at the end of week and opening the door for further weakness towards the 0.8530 level, its Sept’2011 low.