24th February 2011 – FX Daily Report by GFM Research

EURUSD continued its previous day rally yesterday to settle with positive note at 1.3758, well above high of 09th February 2011. 1.3865 is now immediate resistance for common currency above which possibilities of testing 1.4282, high made on 04th November 2010. USDCHF made life time low of 0.9274. Dow Jones closed 107.01 point lower at 12105.78 after breaking a key support of 12130, if the key index manages to sustain below 12130, fall can continue till 11650. Whereas, crude oil continued its momentum on middle east concern and missed $100 mark just by 5 cents.

FX Pair     Support 2      Support 1       Resistance 1         Resistance 2

EURUSD      1.3644            1.3702               1.3830                 1.3865
GBPUSD      1.6117            1.6202               1.6265                 1.6303
USDCHF      0.9187            0.9249               0.9380                 0.9435
USDJPY        80.95              81.70                 82.60                  82.93
EURJPY       112.20            112.78               113.53                114.18
AUDUSD      0.9932            0.9970               1.0084                1.0196

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Disclaimer: This report contains the views of GFM Research Private Limited. This report should not be construed as investment/trading advice. Due care is taken when gathering the data/information and the data sources are believed to be reliable, though GFM Research Private Limited nor its Group Companies guarantee for the same. Trading/investing in financial markets may result in financial and/or emotional stress, a trader/investor is advised to weigh pros and cons of trading/investing. Further disclaimer will be produced on request.