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Majors update
Posted on June 25, 2008
Dollar recovered ground after the unexpected increase in U.S. crude inventories, sending majors to the support and resistance levels mentioned earlier, as oil futures sank more than $4 a barrel, but is more likely to see a rebound around actual prices, than a break trough, at least until FOMC Statement. By this hour, GBP/USD is at the base of an ascendant channel in 1 hours charts that should resist. Under 1.9660, the pair cain gain momentum to the downisde, yet to the upside today s objetive is at 1.9773, a daily descendant trend line coming from 2.0029. USD/JPY is pushing higher...
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