Archived IMT (2010.01.25)

US existing home sales tumbled 16.7% in December vs. consensus of -10%, providing the USD and JPY with modest stability. CAD is amid the biggest losers, as USDCAD regains 1.06 and CADJPY struggles at 85.00 GBPUSD shorts continue to see resistance at $1.6210-20, but could consider long GBPCAD plays to target initial 1.7240, followed by Dec 17 high of 1.7340s. Weekly stochastics on GBPCAD shows more upside than daily oscillators, which are currently overstreteched to the upside. AUDJPY continues to respect last weeks 2-hr chart http://chart.ly/2f933c capped failed 82 now at 81.30, looking to retest 80.90. Gold's failure to regain 1105 remains well noted by USD bulls.