novi03581

AUD/USD’s pull back from 0.7413 was contained well above 0.7135 support last week. Initial bias remains neutral this week first and further rise remains in favor. On the upside, break of 0.7413 will resume the rally from 0.5506 and target 0.7635 long term fibonacci level next. Nevertheless, decisive

USD/CHF’s recovery from was limited at 0.9200 last week and reversed since then. Initial bias remains neutral this week first. On the downside, break of 0.8998 will resume larger down trend. Nevertheless, break of 0.9200 will resume the rebound towards 38.2% retracement of 0.9901 to 0.8998 at 0.9343

At 5.00 am ET Monday, Eurostat has published euro area industrial production data for July. After the data, the euro changed little against its major rivals. The euro was trading at 125.69 against the yen, 1.0764 against the franc, 1.1857 against the greenback and 0.9231 against the pound around 5:0