Hike in AUD/USD Pair

Hike in impending interest rates and a strong retail sale is the main reason behind the run-up in AUD/USD. The US employment report of Thursday’s shall set the tone for today’s action. A bearish report shall cause the traders to seek out higher  Strong retail sales and talk of an impending interest rate hike are the main reasons behind the run-up in the AUD/USD.  Thursday's U.S. Employment report should set the tone for today's action.  A bearish report should cause traders to seek the higher capitulate of Australian Dollar. Regaining the level of .9626 will put the AUD/USD pair on the bullish side of an up trending angle.  This action could help to trigger a test of the high made for the week at .9668. Gann Angles regaining a high of .9681 and .9702 will put this market in a bullish position. Moreover, on the down side, although at .9510 a minor low was created, but it can sustain at the level of .9476

Report on Crude Oil Report and USD/CAD 

The USD/CAD pair fell sharply to its low in one of the biggest ranges in this month, as the commodity prices, especially crude oil brought buyers into the Canadian Dollar. The key area to watch this pair is 50% price at 1.0071 and rest of the trend at a bottom of 1.0047.A break through of 1.0047 could turn the main trend and could trigger a level further at 1.0011. Today the Downtrend resistance is at 1.0238, but from 1.0128 to 1.0143 is the most important resistance zone.  Looking for a break through of 1.0047, traders can sell in this zone. At the level of 1.0071 to 1.0011, some buying can be seen, but his level is good for profit booking but not for taking a new buy. To set your trades for the day watch Crude Oil, Gold and Wheat markets.

Report on GBP/USD Pair

Today the GBP/USD pair has been walking up at 1.9968, since on 06.13.08 it was at its low of 1.9488. When this angle was broken Wednesdays sell level was triggered. However, once the close has put the market in a position to regain this angle, and has taken the Pound in a strong position. If the market does not catch the force, then wait for the break to continue with the supportive level at 1.9708 to 1.9688 for the first down side target. Look for buyers in this zone. with the upward trend. If the supporting level for buyers is 1.9968, then wait for the market to show a downtrend resistance at 1.9998 and move to its upside. There can be some rough trading at the level of 2.0002 and 2.0008.

2.0008, 2.0027 and 2.0050 are the upside acceleration point.