Tuesday August 15, 2006 - 04:36:09 GMT
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ACM - www.ac-markets.com
Daily Technicals: Pick Dollar Sell levels
by Marc Spaelti
EURUSD: Medium term bias is bullish, key support at 1.2670, overnight the 1.2700 was briefly tested. Initial support this morning at 1.2720, first resistance at 1.2760. Bypassing that has space for a rise to 1.2825 in the short-term and targets 1.2900
GBPUSD: Cable a touch lower but with the low of 1.8860 the 1.8835 bullish support has not yet been tested. Keep a bullish medium-term outlook we see the downside risk limited to 1.8770 in the short-term, on top 1.90 remains pivot for an accelerated ascension towards 1.93 target with big resistance at 1.9130 on the way up.
USDJPY: The Dollar maintained high levels and pushed to a new high of 116.75. Sellers are lined up around 117. 117.30 key resistance should stop the pairs rise. Initial support 116.35, expecting a drop through 116 to at least 115.50, target is 114.65.
USDCHF: Spend most of the day above 1.24 in a very tight range, upside potential is for 1.2565 key resistance, a fall through 1.2360 should witness a fall to 1.2260 key support.
@08:30GMT UK CPI, RPI July
@12:30GMT US PPI July, Empire State August
@13:00GMT US TIC Flow June
@17:00GMT US Housing Market Index August
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