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Weekly FX Market COmment
EUR/USD.. .1.0645. Markets continue to be jittery over developments on war front. Still considering this down move as correction which may extend up to 1.0495 below which to 1.0380/65 also. Supports are
at 1.0500 & 1.0460. As long as 1.0320 contains the weakness EUR will retain the chances for resuming its uptrend towards 1.1125/1.1280/1.1335.
USD/CHF.. 1.3975. No change in view. Dollar continues to be in up correction. Resistances are at 1.4060, 1.4105 & 1.4320. As long as Dollar remains below 1.4315/25 we cannot rule out the possibility of down move to 1.3155/1.3060/1.2930.
USD/JPY..120.70. Dollar went below supports mentioned last week, but it still looks poised for test of 122.15 or 122.60/70. Supports are at 118.65 & 117.60.
GBP/USD..1.5575.No change in view. Resistances are at 1.5835 & 1.5885. As these hold one more drop to 1.5470/55 is on the cards.
Regards.
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