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Support & Resist for Thursday 04302009

April 30th, 2009 Wizetrade FOREX David Comments off

Thursday, April 30, 2009

Support and Resistance AM

 

 

Pair              Support                  Resistance           Morning Trend

 

GBP/USD      1.4735 /1.4690       1.4960 /1.5000       Strong

 

EUR/USD      1.3230 / 1.3170      1.3400/ 1.3450       Strong

 

USD/CHF      1.1270 / 1.1240      1.1385/ 1.1420       Flat

 

USD/JPY       96.70 / 96.30                   98.45 /99.00          Strong

 

USD/CAD     1.1860 / 1.1760      1.2000 / 1.2070      Weak

 

AUD/USD     0.7230 / 0.7170      0.7390 / 0.7240      Strong

 

NZD/USD      0.5630 / 0.5570      0.5750 / 0.5800      Weak

 

EUR/GBP      0.8930 / 0.8900      0.9000 / 0.9055       Weak

 

 

08:30 ET on Thursday Morning – Dhigbee

 

Strong equity buying in the Asian and European markets have made for a weaker USD and JPY overnight.  The Futures for the US session are pointing higher going into the open, but backing off overnight highs.

 

Commodity currencies are strong today with a weaker USD providing support for higher commodity prices and the bullishness in the markets supporting higher interest rate currencies.  The blip in the NZD was yesterday evenings interest rate decision to cut rates from 3.0% to 2.5%.

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