Despite resuming recent decline to 0.9593, loss of near term downward momentum should prevent sharp fall below said support and prospect of a corrective rebound is seen, above 0.9695-00 would bring rebound to 0.9750 but break of resistance at 0.9842 (this week's high) is needed to confirm a temporary low is formed, bring correction to 0.9890-00 but reckon resistance at 0.9920 would limit upside, bring another selloff later.

Although intra-day rally to 0.8590 suggests low has possibly been formed at 0.8398 earlier and consolidation with upside bias remains for gain to 0.8600-10, break of previous resistsance at 0.8637 is needed to signal early fall from 0.8815 top has ended at 0.8398 (as wave iv) and bring further headway towards 0.8690-00, otherwise, further choppy trading cannot be ruled out.

Despite intra-day brief retreat to 1.0251 (we recommended to buy at 1.0260 yesterday), as the greenback found renewed buying interest and has rallied in line with our expectation, retaining our bullishness for recent rise to extend further gain to previous resistance at 1.0343, however, break there is needed to retain bullishness and encourage further headway towards 1.0390-00 but reckon another previous resistance at 1.0446 (2012 high) would cap upside.

Current rally above last week's high of 132.78 confirms recent upmove has finally resumed and further gain to 133.50 and 133.90-00 would be seen, however, near term overbought condition should limit upside to 134.50 and reckon psychological resistance at 135.00 would hold on first testing, risk from there has increased for a correction to take place later.

Although aussie has retreated again after recovering to 0.9842, break of recent low of 0.9711 (last week's low) is needed to confirm recent decline has resumed and extend weakness to previous support at 0.9672, however, a daily close below this level is needed to confirm a downside break of recent broad range, bring further fall to 0.9600-10 and later towards 0.9550. If said support continues to hold, then further consolidation is in store and another corrective bounce to said resistance cannot be ruled out

As the single currency has rebounded again after brief retreat, dampening our bearishness and test of resistance at 0.8516 (last week's high) cannot be ruled out, however, break there is needed to suggest a temporary low has been formed at 0.8398, bring retracement of recent decline to 0.8538 resistance but only break there would retain near term bullishness for a stronger rebound to 0.8569, then towards indicated key resistance at 0.8592 which is likely to hold

As the greenback has risen again after retreating to 1.0217 yesterday (we recommended to buy at 1.0200), suggesting recent upmove is still in progress and further gain to previous resistance at 1.0343 would be seen, however, break there is needed to retain bullishness and encourage further headway towards 1.0390-00 but reckon another previous resistance at 1.0446 (2012 high) would cap upside.

As the single currency staged a strong rebound after yesterday's brief fall to 130.93, suggesting consolidation within 103.93-132.78 (last week's high) would be seen with mild upside bias for test of said upper range of 132.78 but break there is needed to signal the medium term uptrend has resumed for further gain towards 133.00, however, loss of near term upward momentum should prevent sharp move beyond 133.50 and reckon 133.90-00 would hold from here

Aussie's recovery after last week's selloff to 0.9711 has retained our view that minor consolidation above this level would be seen and correction to 0.9850 and possibly 0.9890-00 cannot be ruled out, however, renewed selling interest should emerge below 0.9920 and bring another decline later. A break of said support would signal recent decline is still in progress and weakness towards previous support at 0.9672 would follow

Although the single currency rebounded after falling to 0.8420 last week, if our view that top has been formed at 0.8516 last week is correct, upside should be limited to 0.8480 and bring another decline, break of said support would add credence to this view and signal correction from 0.8398 has ended, bring retest of this recent low later, once this support is penetrated, this would bring resumption of recent decline in wave c for further weakness to 0.8360-65

As the greenback has retreated after rising to 1.0313 last week, suggesting minor consolidation below there would be seen and pullback to 1.0240-50 is likely, however, reckon 1.0190-00 would limit downside and bring another rise later, break of said resistance would extend recent rise for a retest of previous resistance at 1.0343, break there would encourage further headway towards 1.0390-00 but reckon another previous resistance at 1.0446 (2012 high) would cap upside.

Despite intra-day brief fall to 130.93, as the single currency found good support there and has rebounded, suggesting consolidation within 103.93-132.78 (last week's high) would be seen with mild upside bias for another rebound, however, break of said resistance at 132.78 is needed to signal the medium term uptrend has resumed for further gain towards 133.00 but loss of near term upward momentum should prevent sharp move beyond 133.50 and reckon 133.90-00 would hold

As aussie has recovered after falling to 0.9711 on Friday, suggesting minor consolidation above this level would be seen and minor correction to 0.9830-40 and possibly 0.9890-00 cannot be ruled out, however, renewed selling interest should emerge beow 0.9920 and bring another decline later. A break of said support would signal recent decline is still in progress and weakness towards previous support at 0.9672 would follow

Euro's retreat after this week's brief rebound to 0.8516 suggests top is possibly formed there and consolidation with downside bias is seen, however, a sustained breach below yesterday's low of 0.8420 is needed to revive bearishness and signal correction from 0.8398 has ended, bring retest of this recent low later, once this support is penetrated, this would bring resumption of recent decline in wave c for further weakness to 0.8360-65 and later towards 0.8333

Current anticipated rally (our long position entered at 1.0100 met target at 1.0250 with 150 points profit) adds credence to our view that low has been formed at 1.0014 last week and the breach of indicated resistance at 1.0295 confirms the correction from 1.0343 has ended at 1.0014, hence bullishness remains for recent upmove to resume for a retest of 1.0343, break there would encourage for headway towards 1.0390-00 but reckon previous resistance at 1.0446

Euro's near term sideways trading is likely to continue and as long as resistance at 132.78 (this week's high) holds, risk of another corrective fall to support at 131.19 cannot be ruled out, however, renewed buying interest should emerge around 130.45-50 and bring another upmove later. A break of said resistance at 132.78 would signal the medium term uptrend is still in progress for further gain towards 132.90-00 but loss of near term upward momentum should prevent sharp move beyond 133.50

As aussie has remained under pressure, suggesting recent decline is still in progress and weakness 0.9700 and possibly towards previous support at 0.9672 cannot be ruled out, however, a daily close below this level is needed to confirm a downside break of recent broad range, bring further fall to 0.9600-10 but oversold condition should limit downside and reckon 0.9550 would hold from here, bring rebound later.

Despite this week's rebound to 0.8516, the subsequent retreat suggests top is possibly formed there and consolidation with downside bias is seen for test of indicated support at 0.8427-31, break there would revive bearishness and signal correction from 0.8398 has ended, bring retest of this recent low later, once this support is penetrated, this would bring resumption of recent decline in wave c for further weakness to 0.8360-65 and later towards 0.8333

As the greenback has retreated again after faltering below yesterday's high of 1.0220, retaining our view that minor consolidation would be seen but still reckon downside would be limited to 1.0135-40 and bring another rise later, break of said resistance would add credence to our bullish bias that low has been formed at 1.0014 last week and bring a stronger rebound towards resistance at 1.0295. Looking ahead, the greenback needs to penetrate this key resistance to signal the correction from 1.0343 has indeed ended at 1.0014