EUR/USD – AUD/USD – USD/CHF November 1, 2011

The Euro got walloped Monday necessitating the need for updated charts.

EUR/USD Daily show clear rejection of the longer term (orange) uptrend line.

The hourly chart shows breakdown of short term uptrend and shows potential supports below. Although I’m holding small position if it wants to keep going down, I don’t discount the possibility of backtest to 13970 area.


AUD/USD hourly chart shows pressure on an uptrend still intact. RBA rate decision in three hours from time of writing.




No JPY pairs for obvious reasons but keep in mind Bank of Japan is very capable of causing temporary USD strength.



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