Daily FNArena News - Technicals

Market analysts at FXCM suggest current action in the AUD/USD currency pair is similar to that of July 2011.

The Chartist reports encouraging signs for Westpac which may yet point to more upside.

Michael Gable of Novus Capital retains his target of 3600 for the ASX 200.

Chartists at Barclays maintain of the view that crude oil prices should weaken in the weeks ahead.

Robert Clayton of GTL Management sees further Aussie dollar risk to the downside.

Market analysts at FXCM see enough reasons to remain cautious on risk assets and positive on the USD.

Michael Gable of Novus Capital was looking for a higher level on the bounce for the ASX 200 and thus remains of a negative view.

Robert Clayton of GTL Management notes the Aussie is close to a clear break-up, although a bearish bias remains until that occurs.

They changed their view last month and are sticking by it despite serious price weakness since: chartists at Barclays remain bearish oil.

The Chartist believes more weakness is necessary for the ASX200 before a major low will be in place.