EUR/USD
EURUSD went back and forth during the day on Wednesday, to find support somewhere near the 1.1150 level. The support may extend till 1.11 level to for short term pull backs we are buyers. We will not place any longer term trade in this market as we can see consolidations between 1.11 level and 1.13 level to top.
GBP/USD
GBPUSD slightly fell during the course of the day on Tuesday. We believe that we have broke the down trend and so we can be buyers with this pair.
Once we break above 1.53 level we are going to touch 1.55 level to the top. With the MPC official bank rate we can wait for opportunities in this market
AUD/USD
AUDUSD fell during the course of the day on Wednesday, as the area above the 0.70 level continues offer resistance. We are not surprised in this move, and we believe that a move back below the 0.70 level should send this market down to the 0.69 level again. We believe that any rally at this point time has to be looked at as a potential selling opportunity, as the Australian dollar continues to soften in general. On top of that, the gold markets got absolutely pummelled during the session, which of course is very bearish for the Aussie.
USD/CAD
USDCAD went back and forth during the day on Wednesday as the Bank of Canada had an interest rate announcement. However, we are most certainly in a decent up Trend, and we are only looking to buy this pair. We believe that the 1.30 level below is support, and that should continue to be the case going forward. In fact, we feel that the support level runs all the way down to the 1.28 level.
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