Thursday June 18, 2009 - 12:03:22 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 18-JUN-2009 - 1200 GMT
USD-CHF @ 1.0778/82...Bearish below 1.0788
R: 1.0810-35 / 1.0843-65 / 1.0898-0930
S: 1.0694 / 1.0624 / 1.0596
Dollar-Swiss broke past the Support at 1.0788 and is now looking bearish for a fall towards 1.0700 or even 1.1650. But if this break just turns out to be a spike, it may opt to continue to range between 1.0788-1.0865. But a fall towards 1.07 looks more likely. Besides the Projected Max Low for the day is at 1.0694 which is likely to be acheived during the US session. A break of 1.0850 may take the pair towards 1.0930 which does not look too likely.
GBP-USD @ 1.6223/26...21-DMA Support held
R: 1.6289-6310 / 1.6347-77 / 1.6420
S: 1.6198 / 1.6129
Cable has fallen and has found Support at the 21-DMA. If it continues to be ranged then the 21-DMA is likely to continue to hold. Else, we might see the Cable falling towards 1.5850 over the next few days. But if this Support holds, it might once again bounce back towards 1.64 during the US session.
AUD-USD @ 0.7933/36...Resistance at 0.8008
R: 0.7955-63 / 0.8008 / 0.8073
S: 0.7844-25 / 0.7787-75 / 0.7752
Aussie has continued to found Resistance near 0.80. We continue to expect it to go down towards 0.7825. A break of 0.8020 would next target 0.8200. So the range of 0.7825-0.8200 is likely to hold over the next few days.
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