Tuesday, March 24, 2009

USD Technical Forex Analysis for Forex Traders


It is a mixed start for the USD this morning as the Chinese markets are back after the extended Lunar New Year celebrations; the Greenback is better against EURO, GBP, CHF and CAD but softer against JPY to start the month. Although trading was light to start Asia, technical follow-on buying from Friday saw the majors start losing ground steadily into early Europe; below-expectations UK CBI data helped pressure GBP into early lows around the 1.4230 area with traders saying a failure at the key support area of 1.4250 to extend losses.
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