TODAY`S FOREX MARKET OUTLOOK

Monday, October 27, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 108.98
Another day of broad consolidation within recent established range is in store and only a firm breach of 108.77 support would signal medium term downtrend has resumed for re-test of 108.28, otherwise, subsequent corrective bounce to 110.00/05 would be seen but resistance at 110.59 should hold from here...


INTRA-DAY AUD/USD OUTLOOK

(Update at 22:45GMT 2003/10/26)


Although aussie has retreated after meeting selling interest at 0.7025/27 on Friday, outlook remains consolidative and as long as 0.6965 support holds, upside bias is seen for another rebound but above 0.7035/40 is needed to signal recent uptrend has resumed.

Incline to buy on marginal weakness, stop initially as indicated and take profit on rebound...



Rate: 0.6987
Strategy / Entry Level: Buy at 0.6975
Position:

Objective: 0.7010
Stop-Loss: 0.6955
Range Forecast: 0.6975 / 0.7005
Resistance: 0.7027/0.7075/0.7093
Support: 0.6965/0.6923/0.6892



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