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Weekly FX Market comment :
EUR/USD.. .1.0735. The multi month trendline crossing near 1.0915/20 has so far managed to contain EUR`s strength. It has now entered into correction, which is likely to continue for a while. Supports are at 1.0665, 1.0625 & 1.0560. These supports are likely to hold initially.
USD/CHF.. 1.3655. Dollar
has duly met our target near 1.3460. Its corrective phase is expected to last for some time. Resistances are at 1.3705, 1.3775/80 & 1.3835/50.
USD/JPY..120.20. Dollar repeatedly found support above 117.35 levels. It would find it difficult to pierce 121.50/60 levels. Until it convincingly breaks this level, it will not be out of the bearish trend.
GBP/USD..1.6450. Cable`s corrective declines should find support above 1.6350 or 1.6280/75. One more up move to 1.6645/70 is still anticipated. More support lies at 1.6220.
Source : www.realtimeforex.com
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