03rd March 2011 – FX Daily Report by GFM Research

Common currency rose most since November 15, 2010 and closed higher at 1.3864 yesterday. EURUSD immediate support is seen at 1.3812 and resistance can be seen near 1.3955. Dow Jones industrial Average closed marginally higher at 12066.80 after taking support of 11983.17, low made on February 24, 2011. Crude rallied $5.45 in last two days. Bullion narrowed intraday range near life time high yesterday.

 


FX Pair        Support 2         Support 1          Resistance 1           Resistance 2


EURUSD         1.3676               1.3812                    1.3905                     1.3955
GBPUSD         1.6160               1.6256                    1.6340                     1.6380
USDCHF          0.9133              0.9202                    0.9325                      0.9481
USDJPY            80.90                81.50                      82.25                       82.80
EURJPY           111.10              111.73                    113.70                      114.25
AUDUSD          1.0085              1.0145                    1.0224                          –


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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.