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Tuesday snapshot: Only one currency in G10 looks worse than the EUR right now
05.05.2012
There is only one EUR cross within G10 that can be said to look “constructive”. What that seems to tell us is that the EUR is in trouble across the board (for reasons that do not need to be repeated here). However there is one currency, NZD, which is on very shaky ground right now. NZDUSD to 0.72?
EURUSD: Bearish after the double 76.4% against the highs and channel top. Expect 1.25
EURJPY: Charts from Tokyo show the breach of the Ichimoku cloud support on the daily chart.
EURGBP: Weak below the 2010 low especially if sustained on a weekly close basis
EURAUD: Resistance levels just above 1.29 have held for now.
EURCAD, EURSEK, EURNOK and EURCHF – all rangy / neutral
This is an excerpt of CitiFX Research & Commentary as received in full by CitiFX Pro clients. It is provided to you only as an example of information made available to CitiFX Pro clients, and it does not contain the full analysis, conclusions, or other information found in original document.