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Weekly FX Market Comment
EUR/USD.. .1.0825. EUR gave up subtantial part of gains last week & markets are jittery over developments on war front. Still considering this down move as correction & it is a question of time before EUR starts going higher to 1.1125 & 1.1335.Supports are at 1.0660 , 1.0580 & 1.0500.
USD/CHF.. 1.3540.No change in view. Dollar`s corrective phase is expected to last for some time. Resistances are at 1.3705, 1.3775/80 & 1.3835/50.Once this phase is over Dollar should go down to 1.3120/1.3065.
USD/JPY..117.85. Dollar dropped to 116.40 last week.Resistances at 118.85 & 119.30/35 are still likely to contain its strength for one more drop to 115.75/55.
GBP/USD..1.5895. In spite of the strong bounce last week, Cable is expected to be weak & should hit 1.5625/1.5570.Resistances are at 1.6050, 1.6160 & 1.6245.
Regards.
Source : www.rtfx.com
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