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  Friday the 16th

Forex news

Here are our latest news about the foreign exchange.

Friday May 16, 2008



EUR-USD
1.5448. While above 1.5434 - 1.5396 zone a corrective dip could test 1.5471 or 1.5497 or 1.5523. After which it should resume his downtrend. 

USD-CHF
1.0571. It should trade lower to 1.0507. Resistances are at 1.0583 and 1.0615. A break of 1.0633 is bullish. 

USD-JPY
104.74. There is bearish potential for a fall to 104.35 while 104.82 - 105.02 resist. After this fall a recovery up to 105.02 or 105.21 is expected 

GBP-USD
1.9474. It looks set for gains to above 1.9517. Supports at 1.9439 and 1.946. A break of 1.9418 will damage this bullish structure. 

EUR-CHF
1.6330. Current upmove should end around 1.6342 - 1.6357 area. A correction down to below 1.6296 or even 1.6261 is expected. A rise above 1.6383 will abort the expected correction. 

EUR-JPY
161.80. There is bearish potential for a fall to 161.33 while 162.14 - 162.38 resist. After this fall a recovery up to 162.38 or 162.61 is expected. 

EUR-GBP
0.7932. While below 0.795 - 0.796 it might drop to 0.7913 or below 0.7894 zone. 

AUD-USD
0.9404. Corrective dips should ideally halt near 0.9372 or 0.9348 for one more thrust upwards towards 0.9412 - 0.9452 area or 0.9501 in extention. Fall below 0.9323 puts it back on a downward path. 

USD-CAD
0.9998. There is bearish potential for a fall to 0.9972 or 0.9947 while 1.0031 - 1.0043 resist. After this fall a recovery up to 1.0031 or 1.0043 is expected. 



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