Thursday June 17, 2010 - 12:21:57 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 17-Jun-2010 - 1220 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 @ 1.1148/51...Mixed
R: 1.1350 / 1.1380-1.1400 / 1.1445
S: 1.1117 / 1.1048 / 1.1100
Dollar-Swiss fell to a low of 1.1126 in the European session today. The pair may find some Support from the 55 DMA Support at 1.1117, we need wait and watch whether it breaks below this in the coming sessions over today and tomorrow. We are not very clear about the immediate movement of the pair and do not recommend any trade for the next couple of sessions.
GBP-USD @ 1.4808/11...Resistance at 1.4830-40
R: 1.4830-40 / 1.4900
S: 1.4700-680 / 1.4650 / 1.4570-50
As expected, Cable moved up to touch a high of 1.4837 in the European session today. We may now expect the pair test the Resistance at 1.4830-40 and move down towards 1.4700 in the coming sessions over today and tomorrow. Though, a break above 1.4830 may move it up further towards 1.4900 in the next few sessions, still we see higher chances of the immediate Resistance holding.
AUD-USD @ 0.8657/60...Resistance at 0.8675-700
R: 0.8675-700 / 0.8740 / 0.8818
S: 0.8600 / 0.8540 / 0.8500-490
Aussie moved up in the European session today. We may see the pair test the Resistance in the region of 0.8675-700 before a dip towards 0.8500 in the coming sessions over today and tomorrow. However, a break above 0.8700 may push it towards 0.8800 in the next couple of days, though we see less chances of a rally on the pair immediate 8600.
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