EURUSD

The pair was sold for another day breaking the low 1.3385, on concerns about Greece weak economy. European Retail sales month over month previously -0.2%, missed expectations and fell to -0.6%, German Industrial Production fell to 0.0% vs. 0.7% expected and Minimum Bid rate announcement remained as expected to low 1.00%. From the US, Unemployment Claims expected 434k, rose to 460k .Oil is trading at $84.50 and equities in the US closed negative. Friday sees French Industrial Production month over month expected to fall to 0.2% from previous 1.6% and President Trichet’s speach . Fed Chairman Bernanke speaks as well, which may provide impetus to pair and may rise to 1.3385 or 1.3460 beyond. Otherwise, may see the pair trading lower to support 1.3268 or 1.3180 beyond.

GBPUSD

The pair range bound between 1.5300 and 1.5125. The release of Halifax HPI month over month rose more than expected to 1.1%, Manufacturing Production expected to be 0.7% however rose to 1.3%, Asset purchase Facility remained as expected to 200B and Official Bank Rate remained low as well to 0.5%. Continuing higher, the pair may break range from the upside heading toward 1.5365. Otherwise, the pair may be sold to support 1.5125 heading lower to 1.5040. Friday sees the release of PPI Input month over month which is expected to rise to 1.3% from previous 0.1%.

USDCAD

The Canadian Dollar took breath after testing support near 1.0000 on day yesterday. Further selling may see the pair heading toward support 0.9975. Buying the pair may continue higher to 1.0100 or 1.0130 beyond. Look ahead Employment change previously 20.9K expected to rise to 25.9K and unemployment rate is expected to fall to 8.1% from previous 8.2%.

USDJPY

The pair continued losing ground testing support 92.85 while Asia stocks closed negative on profit taking. No economic releases are expected from Japan and the pair may dominated by dollar moves. Any movements to the upside could see the pair trading at 93.45 or 94.25 beyond. Breaking the support 92.85 may continue lower to 92.40.

AUDUSD

The pair range bound between 0.9290 and 0.9220 testing the lows of range. Commodities as well continued lower. Key Unemployment rate figures remained to 5.3% as expected. Buying the pair may test once again the range from the upside and continue higher toward resistance 0.9340. Otherwise may retrace back to price 0.9220 or 0.9165 beyond.

Technical Commentary

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