Crude oil holds above the $60 dollar level
Posted by avafx on 19th May 2009
The latest Forex updates say that during the first part of the overnight session the CAD (USD/CAD) moved side-ways, trading near the low reached on Monday. However, the pair pushed during the European session, as crude oil broke and held on top of the $60 yardstick level. Furthermore, the CAD broke below the support trend-line at the ending days of trading.
The Aussie (AUD/USD) was aided by the London open to go forward and break above the high reached on Monday. Simultaneously, the Aussie broke above the 0.7700 resistance area, reaching the maximum evaluation since early October 2008. The Aussie maintained to trade beyond all of the daily SMA.
During the Asian session the Swissy (USD/CHF) tested the 1.1160 resistance area, but the London open pushed the Swissy much lower. In the next few days, the Swissy might carry on with its descending trend as, on Monday, the Swissy jumped off the resistance trend-line that connects the 04/22 and the 05/07 highs.
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