EUR/USD trend: sell.
GBP/USD trend: hold.
USD/JPY trend: buy.
EUR/JPY trend: buy.

Floor Pivot Points
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4957	1.5159	1.5290	1.5492	1.5623	1.5825	1.5956
GBP/USD	1.9229	1.9426	1.9571	1.9768	1.9913	2.0110	2.0255
USD/JPY	101.35	102.29	103.83	104.77	106.31	107.25	108.79
EUR/JPY	157.52	159.06	160.79	162.33	164.06	165.60	167.33

Woodie’s Pivot Points
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.5141	1.5256	1.5474	1.5589	1.5807
GBP/USD	1.9426	1.9571	1.9768	1.9913	2.0110
USD/JPY	102.29	103.83	104.77	106.31	107.25
EUR/JPY	159.06	160.79	162.33	164.06	165.60

Camarilla Pivot Points
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.5239	1.5330	1.5361	1.5391	1.5453	1.5483	1.5514	1.5605
GBP/USD	1.9528	1.9622	1.9653	1.9685	1.9747	1.9779	1.9810	1.9904
USD/JPY	104.02	104.70	104.93	105.15	105.61	105.83	106.06	106.74
EUR/JPY	160.72	161.62	161.92	162.22	162.82	163.12	163.42	164.32

Tom DeMark’s Pivot Points
Pair	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance	1.5558	1.9841	106.78	164.83
Support	1.5225	1.9499	104.30	161.56

Fibonacci Retracement Levels
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.5693	1.9965	105.70	163.87
61.8%	1.5566	1.9834	104.75	162.62
50.0%	1.5526	1.9794	104.46	162.24
38.2%	1.5487	1.9754	104.17	161.85
23.6%	1.5439	1.9704	103.81	161.37
0.0%	1.5360	1.9623	103.22	160.60

The pound was weaker on Tuesday after a new report from mortgage lender Halifax showed that house prices fell by 2.5 percent in March.

The price declines made it more likely that the Bank of England will cut interest rates soon.

At around 11 a.m. in New York, the pound traded at 79.81p to the euro and at 50.81p to the US dollar, while it took ¥201.8488 or SFr1.9953 to buy a pound.

The US dollar was slightly weaker versus the euro and the yen ahead of the release of the minutes from the most recent meeting of the Federal Reserve, due to be released later on Tuesday afternoon.

The greenback was trading at $1.5696 to the euro and was worth ¥102.6450 in late morning trade in New York.

Speculation that the South African Reserve Bank will hike interest rates to 11.25 percent later this week send the rand higher in relation to the US dollar.

After strengthening to R7.76475 to the greenback, the rand traded at R7.7865 at close to noon in New York.

Meanwhile, the Australian dollar saw gains on a return to carry trades as investors worried less about credit market problems and on higher prices for commodities.

The Australian dollar was worth 92.77 cents US or ¥95.1445, while it took A$1.6932 to buy a euro.

The US dollar weakened versus the yen on Tuesday for the sixth session in a row on increasing sentiment that the Federal Reserve will cut US interest rates by three-quarters of a percentage point this month, to 2.25 percent.

Declines for the dollar also came after Fed chairman Ben Bernanke urged banks to write down more mortgage debt and forgive those debts to homeowners at risk of defaulting on their home loans.

The yen also gained on the euro during the day’s session, trading at ¥156.5302 to the euro and at ¥102.8350 to the dollar in late morning trade in New York.

The pound also gained on the greenback as analysts cut back on their estimates of how much the Bank of England will cut interest rates this year, going as high as $1.9891 to the pound before slipping back to $1.9859 to the pound just after 11 a.m. in New York.

The pound was weaker, however, versus the euro, trading at 76.65p to the shared currency in New York.

The Australian dollar declined versus its US counterpart as the Reserve Bank of Australia raised interest rates there to 7.25 percent but some analysts said that they believe rates will not go up again for awhile.

In addition, the Bank’s governor said that consumer spending in Australia seems to be moderating.

In late afternoon trade in New York, it cost 92.81 cents US to buy an Australian dollar.

The US dollar hit another record low versus the euro on Monday on fears that there will be more losses for banks due to US economic declines.

After going as low as $1.5275 to the euro, the dollar traded at $1.5173 to the euro in late morning trade in New York.

A report from Goldman Sachs indicates that the euro could strengthen to as much as $1.57, based on the analysis of trading patterns and prices.

The dollar was also lower versus the yen, dropping as low as ¥102.62 before trading at ¥103.7000 at around 11:30 a.m. in New York as equities markets declined and investors fled risk.

The dollar was hurt by new data showing that manufacturing activity contracted in the US in February, with the Institute for Supply Management’s manufacturing index dropping to 48.3 in February after being at 50.7 in January.

Any reading below 50 in the ISM’s index indicates a contraction rather than growth.

Despite the gains for the yen, other Asian currencies were weaker versus the US dollar on concerns that the slowing US economy will hurt demand for products from Asia.

The chief executive of Australian supermarket giant Woolworths wants his nation's business community to stop "navel gazing" about global warming and start fighting to curb greenhouse gas emissions. Michael Luscombe spoke at a business panel talk.

The panel of large Australian company executives agreed that cutting their output of greenhouse gases would save money and reduce waste. They also said that "the business opportunities" of the green movement "far outweigh the negative side."

"My advice to companies is just get out there and do it," Luscombe said. "You might not get it all right, but you will learn a hell of a lot along the way." Woolworths has been "going green" for about a year and a half, aiming for stringent goals.

The United States said Wednesday it would resume military aid to Thailand suspended in the wake of the 2006 coup, after a democratically elected government was unveiled in Bangkok.

Deputy US Secretary of State John Negroponte "has determined and certified to Congress that a democratically elected government has taken office in Thailand, removing legal restrictions on assistance to the Government of Thailand imposed following the September 2006 coup," said Tom Casey, a State Department spokesman.

Thailand's newly elected Prime Minister Samak Sundaravej on Wednesday unveiled his cabinet, sworn in by King Bhumibol Adulyadej during a brief ceremony inside his Bangkok palace.

"We congratulate Thailand's new cabinet on its inauguration, and the Thai people on their success in re-establishing an elected government," Casey said.

The United States suspended about 24 million dollars in military aid in protest at the ouster of prime minister Thaksin Shinawatra in a bloodless coup in September 2006.

The aid cut-off involved foreign military financing, international military education and training, and peacekeeping operations.

The sanctions were imposed automatically under a US law which forbids assistance to the government of a country where an elected leader has been deposed in a coup.

Washington maintained aid for counter-terrorism, combating weapons of mass destruction and fighting communicable diseases.

Casey said the United States looked forward to "engaging across a range of issues" with Prime Minister Samak's government, "in keeping with the proud history of our warm friendship and strong alliance."

The new Thai cabinet brought close aides to Thaksin back to government.

Samak claimed the defence ministry for himself, only the third civilian ever to hold the job in Thailand.

The foreign ministry is headed by Thaksin's Oxford-educated lawyer, Noppadon Pattama, who is defending the ex-premier and his family against corruption charges filed by the previous military-backed government.

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