Friday September 18, 2009 - 12:04:14 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 18-Sep-2009 - 1202 GMT
EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
USD-CHF @ 1.0296/99...Resistance in the region 1.0330-50
R: 1.0330-50 / 1.0368 / 1.0435-50
S: 1.0256 / 1.0220-00 / 1.0110
After rising and testing the Resistance region 1.0330-50 during the day, Swiss has fallen once again and is now trading just below 1.0300. Our view on the pair continue to remain the same. On the upside we expect the Resistance region 1.0330-50 to hold in the US session today. If it continues to trade below 1.0300, we might see a downmove towards 1.0220-00 in the coming sessions/days
We took profit from the Short position entered at 1.0350.
GBP-USD @ 1.6343/45...May target 1.6200 after consolidation
R: 1.6400 / 1.6448 / 1.6477
S: 1.6301 / 1.6200-6180
Cable has taken Support near the Projected Max Low for the day when it dipped towards 1.6297. A corrective rise from here is likely to be limited to 1.6448 (the Projected Max High for the day) and is then likely to continue with bearishness towards the Support at 1.6200-1.6180. A break of this Support region would confirm the S-H-S on the weekly which could be bearish for 1.5900.
AUD-USD @ 0.8689/92...Support in the region 0.8670-50
R: 0.8718 / 0.8759 / 0.8878
S: 0.8670-50 / 0.8615 / 0.8590-70
Aussie continued to trade lower during the day and tested the Support region 0.8670-50. It is still trading below 0.8700 and might expect a break below this Support region 0.8670-50 in the US session today and might see a downmove towards 0.8620-00 if it continues to trade below 0.8700. Note that the projected Max-Low for the day is 0.8615. However if the Support region 0.8670-50 holds and the pair gains upside momentum, we might see a rise towards 0.8750-75 in the coming sessions.
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