The USDHKD pair has moved higher after testing the 61.8% retracement on the back of a USD bid in the market. Although the 100 day looks poised to touch the 200day from the topside, a continued USD bid could lead the pair to retest trendline resistance during the 1st quarter of 2012.
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EURUSD Breaks 1.29
On a quick move early in the Nikkei session the EURUSD pair broke below the 1.29 handle momentarily and looks poised to continue lower to end 2011. There is little in the form of technical support for the pair beyond the trending Bollinger Band until the August 2010 lows around the 1.26 handle.
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USD/SGD getting close to the top of this downward wedge
USD/HKD grinding lower in this downward channel
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