http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/15/Reserve Bank of New Zealand Governor Alan Bollard hinted at a prolongation of currently low interest rates following the central bank’s decision to keep benchmark lending rates at a record low. Following 15 months of loosened monetary policy, the RBNZ governor hinted at another year of the 2.5% cash rate. Bollard, in following comments, noted the recent decline in commodity production and near term spending restraints as the main reasons for the policy decision released today. In addition,Fri, 15 Jun 2012 06:18:57 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/15/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/13/02/According to the National Australia Bank Business Survey, confidence by the Pacific economy’s manufacturers and business leaders sank in the month of May. Headline survey results fell 4 points to stand at a -4 reading while the index of confidence subcomponent plunged by 6 points to a -2 standing. The readings are the weakest in three years for the country as mining and construction sectors are showing signs of a slowdown. Even with Beijing leaders lowering interest rates last week,Wed, 13 Jun 2012 06:21:11 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/13/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/13/After all was said and done, market participants ultimately failed to see anything good about the recent bailout to Spain during today’s session. Over the weekend, European finance ministers decided to lend out 100 billion euros ($125 billion) in emergency funding to Spain – in order to assist the country with its currency banking sector troubles. However, the question now arises of how this will be implemented. But, even more pressing seems to be other considerations that may make theWed, 13 Jun 2012 06:20:02 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/13/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/12/The euro jumped to a two-week high following Spain’s decision to accept a European Union bailout – the fourth such event in the last three years. Although Spanish policymakers are dubbing the move a simple recapitalization of banking funds and not an official bailout, market speculators are likening the decision to previous bailouts accepted by Portugal, Ireland and Greece. In a Saturday conference call, Euro finance ministers offered Spain’s Prime Minister Mariano Rajoy a bailout packageTue, 12 Jun 2012 06:23:35 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/12/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/08/02/Traders continue to eye the Euro ahead of tomorrow’s highly anticipated Spanish bond auction. The auction, the first since Prime Minister Mariano Rajoy admitted to the country’s difficulty in accessing funds, will highlight the treasury’s attempts at garnering 1 to 2 billion euro in funding. This event will also be the first time since the country’s has accessed global investment markets since similar auctions in early April. Given the rising attention being placed in the Spanish economy overFri, 08 Jun 2012 06:15:10 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/08/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/08/According to the official Bank of Korea release tonight, South Korea’s quarterly expansion matched earlier forecasts for the three month period through March. For the first quarter, the peninsula economy expanded by 0.9% quarter over quarter – while gaining by 2.8% in the annualized comparison. Gains were widely buttressed by an increase in corporate investment and government spending. Corporate spending surged by 10% in the month, helping to offset rather weak personal consumption figures.Fri, 08 Jun 2012 06:14:22 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/08/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/06/A highly anticipated call among G7 leaders is scheduled for today, with some expecting a European resolution – whether forced or agreed upon – to surface. However, the reality of such an event is relatively unlikely given the group’s previous record and Germany’s staunch advocacy of no European bonds. The sentiment could ruin what has been a good couple of sessions for the Euro, after finding its footing circa the 1.2400 support level. Germany continues to remain against any type of EuropeanWed, 06 Jun 2012 06:34:48 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/06/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/01/02/The selling continues on the last day of May for the single currency as the EURUSD spot rate has fallen through the key psychological 1.2500 figure. The downside penetration of the 1.2500 remains widely indicative of further downside, with initial support levels being noted at the 1.2165 June 30th session low. However, given the steep decline in the major spot rate, a short term retracement cannot be ruled out in the near term. Any correction higher is likely to be met with formidableFri, 01 Jun 2012 06:15:44 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/01/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/01/The single currency fell to an 11-year low against the Japanese yen as bearish sentiment from the European financial crisis continues to weigh on the cross currency pair. In particular, investor concerns continue to be heightened by rising concern over the short term future of Spain – highlighted by record yields in the country’s benchmark bonds. Ten year benchmark bonds in Spain rose to as high as 6.66%, rising over the psychological 6.5% and nearing a threshold of 7%. Global investors remainFri, 01 Jun 2012 06:14:53 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/06/01/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/31/Surprising analysts, the Swedish economy rebounded to post a gain in the first quarter as businesses and consumer spending propped up the Nordic economy. For the first three months of 2012, Sweden experienced 0.8% quarter over quarter expansion, compared to last quarter’s 1% contraction. The improved three month measure has now buoyed the annualized figure – which is showing a promising 1.5% pace of growth. The recently released report does well for the country’s underlying currency as mostThu, 31 May 2012 06:23:26 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/31/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/04/A full corrective wave has been completed in the hourly time frame for the USDJPY major currency. The technical picture has left the pair culminating in the apex of a triangle formation, indicative of a break higher or lower in the near term. Given the already established 4-wave flat correction in progress, the likely next direction for the spot rate is lower. However, the notion will likely be predicated on a break of the bottom triangle support – established by the ascending trendline atWed, 30 May 2012 06:37:51 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/04/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/03/Ten-year benchmark bond yields rose on the session following three negative releases as the Spanish government continues to fail in its attempt to calm markets and boost confidence in its ability to recapitalize domestic banks. Unfortunately, the sentiment has kept any gains in the Euro to a minimum against the US dollar – only higher by 0.2% on the day. Any sharp movements in the major currencies are likely to remain muted ahead of this week’s US non-farm payrolls report. Spanish retail salesWed, 30 May 2012 06:34:50 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/03/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/02/The Australian dollar remains supported with the spot rate trading above the 0.9800 barrier, which is being reinforced by the 1.0472-0.9928 descending trendine. Although the price action is expected to retrace a bit, the round figure level should hold, with support levels just below at 0.9798, buoying momentum for a move higher agains the US dollar. Any secondary impulse wave, at this point, should reach initial resistance at 0.9995 or the 38.2% Fibonacci retracement from 1.0472-0.9705 bearishWed, 30 May 2012 06:33:30 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/In the clearest sign of concern among global policymakers, Bank of England member Ben Broadbent said that the central bank is ready, if necessary, to respond with adequate measures should the EU experience the worst case scenario. Although the statements may raise speculation of interest rate changes, they are more than likely alluding to further monetary stimulus. In the last two monetary meetings, Bank of England bank heads have been debating the benefits of further increasing the currentWed, 30 May 2012 06:32:20 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/30/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/29/03/Although fundamental drivers do remain negatively bearish, the technical outlook has improved a bit. Recent developments are pointing towards a potential reversal in the Euro for the short term, which could be exacerbated and extended. A nascent bullish diamond bottom pattern has emerged at the end of corrective wave number 5 in the full wave decline ahead of the 1.2500 round figure barrier. The count merges with the completion of the head and shoulders daily formation, at the 1.2500 figure.Tue, 29 May 2012 06:20:39 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/29/03/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/29/02/Recent commitments by Madrid’s government to bailout Bankia has raised concerns and fears that another leg lower in the Euro against the dollar is coming. Although Spain has committed to about 19 billion euros or roughly $24 billion to recapitalize and clean up Bankia’s balance sheets, there are questions as to whether or not the plan is actually feasible. With plenty of doubts circulating in the market, it’s going to be difficult for the Euro to see any type of retracement from May’s 6% slide.Tue, 29 May 2012 06:19:22 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/29/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/29/The Swiss franc continues to trade a bit lower on the day versus the US dollar following comments released over the weekend by Swiss National Bank President Thomas Jordan. The statements were released in an interview with SonntagsZeitung, a German daily newspaper, and follows speculation last Thursday that the SNB may be building contingency plans on a potential European Union collapse. Last Thursday, speculation had spiked following whispers that the SNB would lean towards a new local depositTue, 29 May 2012 06:17:44 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/29/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/25/03/Euro consolidation has been the theme over the last 24 hours or so as the spot rate finds support just above 1.2550. The notion is set to come to a head now as the exchange rate is likely to test resistance provided by the 1.3228-1.2945 descending trendline resistance. The trendline is being combined with resistance barriers currently residing at 1.2598. A failure to overtake the 1.2598-1.2600 barrier would open scope for the pair to drop to 1.2500. Conversely, additional resistance barriersFri, 25 May 2012 06:22:34 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/25/03/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/25/02/As expected, little was done in the way of resolution formulation or the creation of anything other cautiousness following the end of yet another European Union summit. On the heels of the upteenth summit in the last two years, European leaders emerged fractured and without a plan. The notion has kept the Euro under the 1.2600 psychologically important resistance level for now. One key issue that continued to remain a topic of contention was the issuance of so called Euro bonds. It is also aFri, 25 May 2012 06:19:25 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/25/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/25/For the first time in four sessions, the Indian rupee fought back against the US dollar, retracing from another historic low for the Asian currency. Falling to 56.38 against the US dollar, the rupee is managing to eke out a gain as markets head into afternoon trading, currently trading back at 55.60. For all intents and purposes, the Indian rupee has been under an extreme amount of selling pressure over the past year as global investors have shun Indian assets in the currently risk averseFri, 25 May 2012 06:18:27 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/25/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/23/02/The single currency failed to overtake the pivotal 1.2800 figure, which is being reinforced by the 200 hourly EMA. The barrier is likely to cause further suppression of Euro gains, against the US dollar in the near term. The notion is increasing the likelihood that the spot rate will fall to test support circa the 1.2700 round figure. The round figure barrier is being buoyed by the 1.3279-1.2946 descending trendline and the 61.8% fibonacci level from the recent 1.2641-1.2823 upside correction.Wed, 23 May 2012 06:59:17 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/23/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/23/In a not so surprising move, Fitch Ratings Agency announced a reduction in Japan’s sovereign credit rating today. Behind the decision to cut the world’s third largest economy’s credit rating was a ballooning public debt load and the recent inability of the government to reign in spending. Estimates are for the Japanese public debt load to reach well over 220% of gross domestic product by the end of this year. While maintaining a negative outlook on the Japanese economy, Fitch analysts reducedWed, 23 May 2012 06:57:39 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/23/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/22/03/The Euro continues to find supportive momentum stemming from last Friday’s bounce off of support at 1.2650. The barrier has allowed the single currency to gain by as much as 130 pips against the US dollar. However, the currency’s ascent may be coming into question as key resistance barriers are emerging above the 1.2800 level. Initial resistance at 1.2800 is being reinforced by 200 hourly EMA barriers surrounding the 1.2818 figure. The barrier remains a key roadblock to targets higher up nearTue, 22 May 2012 06:15:31 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/22/03/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/22/02/The Thai baht declined on the day against the US dollar, following the release of the gross domestic product figure. Although expansion was faster than anticipated, the Asian emerging market currency came under a bout of selling on the heels of the G8 summit commentary. Currently, the Baht is trading at 31.35 against the greenback, lower by 0.09% on the session. According to figures released by the National Economic and Social Development Board in Bangkok, gross domestic product gained by 0.3%Tue, 22 May 2012 06:13:38 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/22/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/22/The G8 summit provided nothing in the way of details for further improvement – on both the world economic and Greece debacle front. Following the annual meeting at Camp David, Maryland, leaders of the G8 countries released statements that were pretty much in line with market expectations. Notably, leaders supported the notion of a stronger Eurozone, and pushed for retention of the Greek country as a Eurozone member. The sentiment follows the recent electoral debacle that has effectively leftTue, 22 May 2012 06:12:40 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/22/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/09/02/The Australian dollar has fallen to trade at 1.0059, just above the 1.0020 session low on fundamental drivers.  However, the technical picture isn’t that much better – leaving some speculation that further downside can be expected in the spot rate. Specifically, the AUDUSD currency pair has broken through key support of 1.0118, or the 61.8% fibonacci retracement from the 0.9668-1.0843 bull wave.  The level stood as the last line of defense for the spot rate, with a penetration belowWed, 09 May 2012 22:35:05 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/09/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/09/Declining for the 7th straight session, things aren’t looking good for the Euro.  The single currency failed to break back above the 1.3015 resistance level, critical for any further momentum higher.  Now, below the the 1.3000 round figure, and near the session low of 1.2910, technical indications are siding with further declines in the spot rate against the US dollar. Trading at 1.2930, the exchange rate is only slightly higher than the session low of 1.2910, and dangerously belowWed, 09 May 2012 22:34:05 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/09/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/07/The single currency has battled back against the US dollar in the New York session, rising from a low of 1.2960, currently trading at 1.3056.  The move has widely been seen as a profit taking move, with buyers carefully eyeing the 1.3082 figure. The 1.3082 stands as the first test of resistance for short term investors long the currency, stemming from the 38.2% fibonacci retracement level of the 1.3228-1.2960 bearish decline.  The level additionally represents the close of Friday’sMon, 07 May 2012 22:26:21 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/07/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/03/Failing to break above resistance at 1.6250, pound sterling has declined by 0.09% on the day to 1.6181.  Remaining below 1.6200 at the moment, the major currency is likely set for another leg lower given the massive amount of resistance above. Any correction in the short term is likely to meet with harsh resistance at the descending 1.6300-1.6238 trendline that is reinforcing the psychological 1.6200 figure.  The level is likely to remain intact even in the face of a correction backThu, 03 May 2012 22:40:59 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/03/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/02/The single currency has broken through formidable support at 1.3200, confluence of both 100 and 200 EMAs in the hourly chart.  The spot rate has now also broken through the rising wedge technical pattern, indicative of further declines in the spot rate.  However, for now, consolidation is likely to occur as the exchange rate has found support at 1.3142 (reinforced by the 50% fibonacci retracement level from 1.2997-1.3283). Any further declines in the future are dependent on a breakWed, 02 May 2012 22:49:21 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/01/The single currency has failed to penetrate resistance at 1.3275, lending to the decline through to the test of support at 1.3200.  Although a slight correction can be anticipated at this level, any upside momentum will likely be tested at 1.3242 resistance. However, given the bearish sentiment now in the market for the single currency, it is probable that the Euro will lose further ground to the US dollar (without a corrective effort), till support circa the 1.3200 round figure supportTue, 01 May 2012 22:33:28 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/05/01/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/30/Trading at 1.0426, the Australian dollar is being supported by the psychologically important 1.0400 support barrier.  The level itself is being reinforced by a confluence of support barriers at 1.0375, with the most important figure being the 38.2% Fibonacci retracement level from the recent 1.0250-1.0465 bull wave. With the correction from the 1.0465 wave top remaining above the 1.0382 previous high, the second leg of a wave 3 push higher could be in the works – setting medium termMon, 30 Apr 2012 22:47:28 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/30/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/26/The Euro has continued to climb moderately against the US dollar, with the single currency now trading above 1.3200 psychological support.  However, any further momentum looks to be in jeopardy as the price action has now formed a nascent rising wedge pattern – indicative of a near term turn in the major. With topside ascending trendline resistance (1.3159-1.3222) compounding resistance at 1.3275, probabilities are in favor of a short term correction.  Should the notion ring true,Thu, 26 Apr 2012 22:50:37 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/26/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/24/02/The cross currency pair found support at 130.25 in the overnight, helping it to vault higher by 0.8% during the session.  Now, hovering above the key 131.00 barrier, price action is portending towards another leg higher in favor of pound sterling. The penetration above 131.00 was key for any short term rise in the exchange rate as the level acted as the last line of defense for short sellers.  As a result, with the break higher, the current momentum is indicative of a mad rush toTue, 24 Apr 2012 22:36:07 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/24/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/24/The EURUSD exchange rate found expected support at 1.3143 in New York afternoon trading.  The barrier was a confluence of 1.3140 support (or the 38.2% fibonacci retracement level from the 1.3369-1.2994 decline) and the 200 hourly EMA.  Remaining above 1.3150, the short term picture looks promising for another move higher in the single currency. With initial support at 1.3175, any formidable correction on a failure to break above 1.3200 would see secondary support levels reinforced byTue, 24 Apr 2012 22:34:26 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/24/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/23/02/The USDCHF currency pair continues to defy gravity, finding support at 0.9100 in the overnight, now trading at 0.9150.  Although a bit more momentum seems fitting for the currency pair today, the extended outlook is a bit more pessimistic, with Swiss franc strength likely in the short term. The pair is just short of major resistance at 0.9157.  The level stands as the 38.2% fibonacci retracement level from the failed bullish flag breakout (0.9017-0.9246).  The barrier is beingMon, 23 Apr 2012 22:36:00 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/23/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/23/Rising off of support at 1.5850 and gaining 1.8% over the course of a week, the GBPUSD currency pair is hitting major resistance just below the 1.6150 figure.  The level poses a formidable problem for the major pair’s momentum higher, with the pair unable to break above the barrier back in Q4 2011. The same is likely to occur this time around with the barrier being reinforced by resistance at 1.6111 or the 61.8% fibonacci retracement from 1.6616-1.5312 corrective wave lower.  AMon, 23 Apr 2012 22:34:25 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/23/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/20/03/Euro gains are subdued on the session following rather mixed results from today’s highly anticipated bond auction. Today’s offering by the Spanish treasury was the first time since the distressed country has offered benchmark 10-year bonds since January, with many looking to the results as a litmus test for future upcoming auctions. With offering details relatively lackluster, the single currency sold off against the US dollar, falling from a 1.3165 earlier in the session, to a low of 1.3069.Fri, 20 Apr 2012 07:42:33 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/20/03/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/20/02/It doesn’t look good for the US employment picture. For the fourth straight week, jobless claims in the world’s largest economy rose above analysts’ estimates according to the US Labor Department. For the week ended April 14th, jobless claims rose 2,000 to 386,000 – greater than the 370,000 consensus estimate. To make matters worse, the previous week’s figures were revised higher by 8,000 to 388,000 for first time claimers. The rise in initial claims is sparking concern now that the string ofFri, 20 Apr 2012 07:41:31 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/20/02/http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/20/International Monetary Fund officials have confirmed the contributions of several nations over the last week as individual countries follow Japan’s lead in boosting IMF lending defenses. On Tuesday, Japan’s Finance Minister Jun Azumi released a commitment of $60 billion in order to increase the firepower of the global entity in dealing with the European Union’s fiscal crisis. The contributions come on the heels of a request by IMF Managing Director Christine Lagarde to increase the entity’sFri, 20 Apr 2012 07:40:37 GMThttp://www.fxstreet.com/technical/analysis-reports/http://forexalliance.com/contact/ (ForexAlliance)http://www.fxstreet.com/technical/analysis-reports/fx-technical-tweets/2012/04/20/