Friday May 7, 2010 - 12:08:14 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 07-May-2010 - 1206 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 @ 1.1092/95...Mixed
R: 1.1138 / 1.1182-200 / 1.1246
S: 1.1025 / 1.0988 / 1.0942
Dollar-Swiss touched a low of 1.1016 followed by a high of 1.1186 in the US session yesterday. The pair may move in the range of 1.1050-1140 in the US session today. Though there are chances of some dip towards 1.1000 in case of a break below 1.1050.
GBP-USD @ 1.4669...Resistance in the broad 1.48-49 region
R: 1.47 / 1.4780-1.48 / 1.4850
S: 1.4650-40 / 1.4580 / 1.45
Cable fell further towards 1.45 as expected. Though it has bounced back from the day's low of 1.4474, we see strong Resistance in the broad 1.48-49 region. We expect this Resistance region (1.48-49) to hold and the pair to remain pressured on the downside. On the downside, the significant Support to watch for is 1.44.
AUD-USD @ 0.8906/09...Mixed
R: 0.8944-65 / 0.9000 / 0.9050-65
S: 0.8832 / 0.8771-60 / 0.8719
Aussie touched a high of 0.8938 in the European session today. The pair has come up after testing an important Supports at 0.8719 on the monthly and the weekly charts. The pair may now move in the range 0.8800-950 in the US session today. However, on the higher side, we may see the pair move towards 0.9000 on a break above 0.8944-65 in the US session today.
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