Wednesday, December 23, 2009

aud/usd, gbp/chf, gold - looking back at yesterdays action

aud/usd still in long-term down trend below pivot .9136 and in between resistance of .8903 and support of .8689 on daily time-frame. The hourly has been showing a good degree of buying and making ground on .8903 resistance.

gbp/chf the pound took considerable heat as it weakened against the Swissy, even with chatter that the Swiss National Bank is conducting franc-selling intervention and comments by the SNB that it would be premature to raise borrowing cost due to down-side pressures to inflation. Still well below major resistance of 1.6890 and above pivot of 1.6296. In the shorter-term there is resistance at 1.6632 and support at 1.6593.

gold traded in a volatile range and recently breaking out from 1087.14 and bouncing again at 1087.14. key pivot area is 1070.53 and below this mark will make it a new downtrend if 30m lower lows confirm it. currently 30m lows are higher with the last through at ruffly 1087.14 which is also a key area of price action.

1 comment:

  1. A very informative post for market traders this is. Gold, silver are highly price volatile. MCX Tips can help to deal with such precious metals in a better way.

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