Morning Forex And Commodities Technical Commentary |
Euro
Initial support is at 1.4243 (Apr 7 low) followed by 1.4208 (Apr 6 low). Initial resistance is located at 1.4512 (Jan 15 2010 high) followed by 1.4561 (1.2867 plus 1.2588-1.4282)
Yen
Initial support is located at 84.51 (Dec 51 low) followed by 84.03 (Apr 5 low). Initial resistance is at 85.62 (50% retrace of 94.99-76.25) followed by 86.00 (Big Figure Resistance).
Cable
Initial support is located at 1.6257 (Apr 6 low) followed by 1.6091 (Apr 5 low). Initial resistance is at 1.6458 (Jan 19, 2010 high) followed by 1.6516 (Dec 7 2009 high).
Australian Dollar
Initial support is near 1.0412 (Apr 7 low) followed by the 1.0315 (Apr 6 low). Initial resistance is located at 1.0640 (0.8771 plus 1.618 of 0.8067-0.9222) followed by 1.1023 (61.8% retrace of 1.4885-0.4776).
Gold
Initial support is at 1447 (Mar 24 high) followed by 1430 (Apr 5 low). Initial resistance is at 1477 (1308.25 plus 0.618 of 1157.03-1431.25) followed by 1480 (Big Figure).
Oil
Initial support is located at 110.00 (Intraday Support) followed by 108.00 (Intraday Support). Initial resistance is at 113.50 (Intraday resistance) followed by 115.00 (Intraday Resistance).
About the author: Ava FX Analysts Department
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