Tuesday April 6, 2010 - 12:40:25 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 06-Apr-2010 - 1158 GMT
USD-CHF @ 1.0686/90...May come down slightly
R: 1.0675-700 / 1.0759 / 1.0803-20
S: 1.0596-600 / 1.0551 / 1.0496-55
Dollar -Swiss is trading in the Resistance region of 1.0675-700. We expect the strong current Resistance to hold, following a dip towards the Support at 1.0596-600 in the US Session today. However, a strong break above 1.0700 may see pair rise towards 1.0759.
We have a preference of a dip towards 1.0596-600 followed by a rally beyond 1.0700 in the coming sessions over today and tomorrow.
Limit Buy Order:
Buy USD 10K @ 1.0550, SL 1.0460, TP Open
GBP-USD @ 1.5174/78...Might test the Support at 1.5130-00 region once again
R: 1.52 / 1.5285-1.5310 / 1.5380-1.54
S: 1.5130-00 /
Cable fell sharply in the European session today and tested the Support at 1.5130-00 region mentioned earlier. Though it has bounced back from the low of 1.5129, while below 1.52 we expect it to remain pressured on the downside. We expect a revisit of the Support at 1.5130-00 region once again in the US session today. As mentioned earlier, a strong break below 1.51 might increase the chance of a further dip to 1.50-1.4950 in the coming sessions/days.
On the upside Resistance is seen at 1.5285-1.5310 region which is expected to hold in the US session today. However, a strong break above 1.5310 might take it up towards 1.5380-1.54.
Limit Sell Order:
Sell GBP 10K at 1.5270, SL 1.5360, TP Open
AUD-USD @ 0.9234/38...Bearish
R: 0.9266-80 / 0.9350 / 0.9405
S: 0.9178-58 / 0.9100-057 / 0.9013-0.8995
Aussie has gone up in the Asian and the European session today following an increase in interest rates (25 bps increase to 4.25%) by RBA for the 5th time since Oct-09. The pair has very strong Resistance in the region of 0.9266-80 which may be honoured following a dip towards 0.9178-58 or even 0.9100 in the coming sessions over today and tomorrow. However, an immediate upmove (less chances) may push the pair towards 0.9300 in the US Session today. Please note that 0.9266 is a trendline Resistance on the monthly charts and 0.9278 is a trendline Resistance on the weekly charts. To see the trendline Resistance on the AUD-USD Charts, please follow the link below:
AUD 10K Short @ 0.9223, SL 0.9275, TP Open
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