Tech Musings - Currencies.

I am following my post on currencies written on 19^th December 2012. The first chart is USD chart. We can see that in the given chart DXY has broken out of downtrend and now moving towards 86 - 87 levels.  Stop loss for DXY is at 78 levels and unless DXY breaks below 78 it would be very hard for other currencies including EURO to appreciate from here.

 

Next chart is CAD. I have been bearish on CAD since June 2012 and reiterated my call on 19^th December 2012.  I admit that CAD took longer than expected to break out but now it seems that it may breakout in next few months. If CAD beaks above 1.05 we will see a 1.20 levels by the end of the year.

 

 

Similarly AUD has broken the trend line and faced resistance exactly at Channel resistance. I have been bearish on AUD since September 2011.   AUD should go below 0.95 levels by the end of this year.

 

Next chart is of INR. INR is at a very crucial level. If INR manages to break above 55.50 and 56.50 the next level should be 60 to 64. As readers know I have been bearish on INR since August 2011 when INR was trading at 44 levels.