From The Charts – EURUSD AUDUSD

• alaidi
• December 2nd, 2010

QUADRUPLE CHART DELIGHT: $USDX, US 10 yr Yield, $AUDUSD, $EURUSD. Here are the levels requiring your attention. EURO BULLS WILL NEED TO SEE A CLOSE above $1.32 on Friday in order for the downtrend to be challenged into a concrete rebound.A Friday close below $1.32 would be an immediate negative into the following week.

US 10 YEAR YIELDS TOUCH 3.00% for the 1st time since August, nearing the 200-day MA of 3.10% while USD approaches towards its own 200-day MA of 82 from the current 80.40. This especially negative for $EURUSD as the spread between German and US 10-year yields (GE minus US) deteriorates to -0.18% after repeatedly failing to regain positive territory since June 2009. The yield spread implications for $EURUSD are such that $1.30 will likely come under assault before our medium term target of $1.27 emerges.

ASHRAF’s VIDEO MARKET HIGHLIGHTS http://bit.ly/ gkBKWS

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Tickers: $EURUSD, $USDX, 10 year Treasuries, AUDUSD, chartly

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