Monday June 14, 2010 - 12:39:10 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 14-Jun-2010 - 1230 GMT
USD-CHF @ 1.1358/61...Bearish
R: 1.1481 / 1.1520-40 / 1.1604
S: 1.1350-40 / 1.1300-280 / 1.1182
As expected, Dollar-Swiss moved down to touch a low of 1.1351 in the Asian and the European session today. We may see the pair take some Support near 1.1340-50 in the US session today.
If the pair breaks below 1.1340, it may see a dip towards 1.1250-00 in the coming sessions over today and tomorrow. However, in case it honours the Support at 1.1350, a rise towards 1.1450 may be seen, though we see less chances of an immediate rally on the pair.
In the longer term, we continue to hold our view of a rise on the pair towards 1.19-20.
GBP-USD @ 1.4777/80...Buy dips
R: 1.4800 / 1.4850-65 / 1.4900
S: 1.4675 / 1.4620-10 / 1.4550
Cable has rallied in the European session today. It may now rise towards 1.4800-50 (even 1.4900) in the coming sessions over today and tomorrow. There is a possibility that the rise towards 1.4800 may not be smooth; and we would like to use the dips (during this rally) as a buying opportunity, as against panicking and selling.
AUD-USD @ 0.8635/38...Bullish
R: 0.8660-80 / 0.8720 / 0.8800
S: 0.8600 / 0.8570-50 / 0.8400
As expected, Aussie moved up in the Asian and the European session today. The pair is currently in a Resistance region of 0.8600-700 and may move up towards 0.8900 on a strong break above 0.8675-8700 in the US session today. A failure to break above 0.8700 may bring it down towards 0.8500 in the next couple of days, though we see less chances of an immediate fall on the pair.
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