October 1st Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

The EUR/USD pair fell this past week, but it must be said that we are still above significant support at the 1.2750 level. As long as this is true, it is going to be hard to push this pair down much more. The Euro bulls seem oblivious to bad news, so there is little to think this is going to change in the short term.

The USD/CAD pair is currently bouncing around the 0.98 handle, and oil is finding a bid. Now the real questions will be answered over the next week or so. Will oil rise? It certainly looks likely. If it does - this pair falls. Once we are above the 0.9950 level however, this is a bullish market until 1.04 again.

The AUD/USD pair fell over most of the week, but finished strong enough to look supported. This chart shows support at the 1.03 level, and resistance between 1.05 and 1.06 or so. Which one will win? With the Fed printing money......the AUD is likely to climb over time.

Published on 30th of September 2012
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