We recently highlighted the bullish risks in USD/SGD and NZD/USD as these Asian/commodity currency leaders continue to gain ground against the USD. Elsewhere, however, several USD pairs are at or near important support areas. Most notable in Asian FX space are USD/PHP, at 42.60, and USD/THB, at the 29.45/65 zone. Downside moves through these levels would be another USD negative, especially as the stock markets in the Philippines and Thailand are among the best performers in Asia. In commodity currencies, USD/CAD and AUD/USD are teetering on similar USD support levels, which we have highlighted in this report.
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/07/GLOBAL_TW_102762748.pdf
BARCLAYS CAPITAL
TECHNICAL RESEARCH