Wednesday, August 27, 2008

Major Pairs at Key Levels

Dollar's rally is still being held by key levels in against some major currencies. GBP/USD recovers after hitting 1.83
level, AUD/USD is drawing support from 0.85. USD/CHF is still struggling around 1.1. Momentum in EUR/USD is not
convincing too. Dollar is struggling to find follow through buying with oil still held inside range of 112 and 118 level
and will probably need a break out there to give clear direction. On the other hand, note that focus in the major pairs
will remain on near term levels mentioned in out technical outlook reports and as long as these levels holds, there is
still no change in dollar's near term bullish outlook ye

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