02nd March 2011 – FX Daily Report by GFM Research

DJ faced resistance and settled lower at 12058.02 yesterday, almost 200 points lower from day’s high. Common Currency may find stiff resistance at 1.3955 ranges. ERUUSD though settled negative but caught in 1.3700-1.3865 range since last four days. Crude closed well above $100 mark on middle east concern. Bullion continued its shine and made new records. Gold made new life time high of $1435.06 overnight, whereas silver surged most in last 31 years by testing $34.73. USDCHF may pair some of the price losses in near-term till its trades above 0.9230. USDJPY could get some buying momentum towards 82.80 or higher, if it manages to close above 82.25. AUDUSD made fourth failure attempt to surpass 1.0254 and plunged to 1.0133 after making day’s high of 1.0202


FX Pair      Support 2         Support 1         Resistance 1        Resistance 2


EURUSD       1.3663               1.3659                 1.3781                 1.3955
GBPUSD       1.5996               1.6200                 1.6296                 1.6380
USDCHF        0.9169               0.9230                 0.9325                 0.9481
USDJPY          81.20                 81.60                  82.25                   82.80
EURJPY         111.10               111.44                 113.70                114.25
AUDUSD        0.9962              1.0089                 1.0138                 102.15


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