Forex Flash: AUD/USD bearish, capped at 1.0486/90 - Commerzbank

Having broken down through support at 1.0345 (December low), Commerzbank analysts continue to view the AUD/USD market as a top and look for a slide to the 1.0149 October 2012 low. “We do have a support line drawn from the 2009 lows at 1.0280, but this connects only 2 points and should only act as temporary support”, wrote analyst Karen Jones, allowing for a small rebound very near term. “Rallies are expected to remain capped by 1.0486/90, the 18th Jan low and 27th November high, which is a short term pivot and while capped here attention will remain on the downside. On the upside, there is a short term resistance line at 1.0432 “which is likely to offer additional resistance and the previous Dec low should act as immediate resistance”, she added.

Feb 7, 2013

Forex: USD/CHF plunges below 0.9100 level

The USD/CHF has certainly wilted ahead of the ECB decision later this afternoon, as the pair plunged 40 pips off its European highs (0.9112) to record fresh lows at 0.9072. However, in recent minutes, the pair has pared some of its losses to trade at 0.9082/86 at the time of writing, still ultimately incurring a loss of -0.19% Thursday.

Forex Flash: Carney Testimony in focus - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Mr Carney’s testimony to the Treasury Select Committee isn’t likely to see fireworks today but will be closely watched nonetheless.