22nd March, 2011 – Daily Forex report by GFM Research

The Greenback continued weakening a midst stronger equity bourses across the globe, especially the key index of Dow Jones Industrials (DJIA). Yen has stabilized against most of the major pairs, after exhibiting unprecedented volatility during last week.
Non-homogenous weakening of USD is expected due to divergence observed in Japanese Yen and other majors against the U.S Dollar.

 


FX Pair          Support 2          Support 1         Resistance 1          Resistance 2


EURUSD             1.4057               1.4107                1.4254                   1.4310
GBPUSD             1.6180               1.6260                1.6375                   1.6450
USDCHF             0.8950               0.9003                0.9060                   0.9100
USDJPY               80.00                 80.50                  81.70                     82.00
EURJPY              112.90               113.85                116.31                   116.64
AUDUSD             0.9935               1.0030                1.0100                   1.0142


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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.