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| Action Insight Weekly Report | Markets Snapshot |
Dollar Might Take a Breathe This Week, But No Bottoming YetThe theme of QE II from Fed continued last week, sending the greenback through 1.4 level against Euro, while making record low against Swissy and Aussie. USD/JPY also managed to break through intervention low of 82.86 during the week and closed below 82. Gold rode on dollar's weakness and made another record high at 1366 before turing sideway. Yields on two- and five-year notes reached record lows while DOW extended rally to close above 11000 level. Though, some mild support was seen to the greenback towards the end of the week after St. Louis Fed chief James Bullard played down the chance of QE II in November. |    |
| Featured Technical Report | |
AUD/USD Weekly OutlookAUD/USD's strong rise and break of 0.9849 high confirms that long term up trend has resumed. Though, with a temporary top formed at 0.9915, initial bias is neutral this week and some sideway trading should be seen first. But downside is expected to be contained by 0.9541 support and bring another rise. Above 0.9915 will target parity and then 138.2% projection of 0.8315 to 0.9220 from 0.8770 at 1.0021. |
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