Tuesday March 9, 2010 - 14:31:27 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 09-Mar-2010 - 1430 GMT
USD-CHF @ 1.0783/86...100 Week MA Resistance at 1.0851
R: 1.0802 / 1.0830-51 / 1.0886
S: 1.0750-29 / 1.0707 / 1.0686-67
Swiss has broken the Resistance near the region of 1.0745-61 mentioned in the morning and is looking strong. There is a trendline Resistance on the monthly charts at 1.0802, which may be honoured in the US Session today. A break above this may take it towards the 100 Week MA Resistance at 1.0851 in the coming sessions.
On the downside, there is a Support in the region of 1.0750-29, a fall below which may lead to the next Support level at 1.0707. However, we do not expect a break below the immediate Support region in the US Session today.
Overall, we expect a movement in the range of 1.0750-1.0830 in the US Session today.
GBP-USD @ 1.4970/73...Bearish
R: 1.50 / 1.5100-35 / 1.5180-1.52
S: 1.49 / 1.4870-50 / 1.4800-1.4780
Cable has broken below the Support at 1.50-1.4975 region mentioned earlier and has rendered itself further bearish for a fall to 1.4900-1.4850. We expect it to trade below 1.50 in the US session today.
On the upside significant Resistance is seen at 1.5100-35 region which is expected to hold incase any sharp bounce back breaking above 1.50 is seen in the US session today.
AUD-USD @ 0.9076/79...Immediate Support at 0.9060-40 region
R: 0.9130 / 0.9180-0.9200 / 0.9251
S: 0.9060-40 / 0.9000-0.8980 / 0.8950-35
Aussie fell in the Asian session today from the high of 0.9116 and is trading lower now. However, significant immediate Support is seen in 0.9060-40 region which included the 100-DMA (0.9059) and the 21-Week-MA (0.9041). We expect this Support region (0.9060-40) to hold and can see a bounce back once again breaking above 0.9100 in the US session today.
On the other hand a break below 0.9040 might test the next Support at 0.9000-0.8980 region.
AUD 10K Long @ 0.9107, SL 0.9020, TP 0.9180
As soon as the market trades 0.9140 bring the SL up to 0.9090
AUD 10K Long @ 0.9080, SL 0.8990, TP open
As soon as the market trades 0.9140 trail SL to 0.9090
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