Tuesday June 15, 2010 - 12:33:48 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 15-Jun-2010 - 1230 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 @ 1.1414/17...Bearish
R: 1.1481 / 1.1520-40 / 1.1583
S: 1.1350-40 / 1.1300-280 / 1.1182
Dollar-Swiss touched a high of 1.1479 in the Asian session today. The pair may move in the range of 1.1350-500 for some time before a downmove in the coming session in the next couple of days. Please note that the pair may not immediately break below the 200-MA (1.1365) on the 4-hourly charts and the 8-MA (1.1350) on the weekly charts. But, there are high chances that the pair will move in this broad range of 1.1350-500 in the coming sessions over the next couple of days, followed by a fall towards 1.1250-200 later this week or early next week.
In the longer term, we continue to hold our view of a rise on the pair towards 1.19-20.
Limit Sell Order:
Sell USD 10K at 1.1440, SL 1.1530, TP Open
GBP-USD @ 1.4729/32...Buy dips
R: 1.4800 / 1.4850-65 / 1.4900
S: 1.4675 / 1.4620-10 / 1.4550
Cable went down to touch a low of 1.4682 in the Asian and the European session today. It may fall towards 1.4650-700, before an upmove in the coming sessions over the next couple of days. A bounce from 1.4682 has given us a reason to believe that the pair may not have much downside for the next few days. However, a break below 1.4600 will prove us wrong, though we see less chances of this sharp downmove.
AUD-USD @ 0.8571/74...Mixed
R: 0.8600 / 0.8640-60 / 0.8720
S: 0.8540 / 0.8500 / 0.8440-20
Aussie went down to touch a low of 0.8505, followed by a rise to 0.8597, in the Asian and the European session today. The pair was just shy of the 200-MA (0.8606) on the 4-hourly charts. The pair is near a strong Resistance region of 0.8600-700 and we will need to wait and watch if the pair breaks or honours this Resistance in the coming sessions over today and tomorrow. While below 0.8600 it may come down towards 0.8400. However, a break above 0.8600-700 may push it towards 0.8900 in the next couple of days.
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