Monday July 12, 2010 - 13:23:00 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 09-Jul-2010 - 1220 GMT
USD-CHF @ 1.0632/35...Bullish
R: 1.0699 / 1.0817 / 1.0920
S: 1.0600 / 1.0486 / 1.0400
Contrary to our expectations, Dollar-Swiss moved up in the Asian and the European sessions today. The pair has broken above the bearish channel on the daily charts and we may see it rise towards 1.0700-50 in the coming sessions over today and tomorrow. Though, the pair may trade sideways in the range of 1.0600-50 before a rise towards 1.0700-50 tomorrow.
GBP-USD @ 1.5045/48...Mixed
R: 1.5100 / 1.5165 / 1.5250
S: 1.4993-70 / 1.4893 / 1.4750
Cable tested the Support at 1.4990-70 region in the European session today and is currently trading above the 1.50 figure. The Support at 1.4970-90 may hold again in the US session today. However, if it breaks the markets may see 1.4900, followed by a rally towards 1.5100-50 in the coming sessions/days.
AUD-USD @ 0.8739/42...Bearsih
R: 0.8811 / 0.8870-80 / 0.8975
S: 0.8640-20 / 0.8580 / 0.8540-20
Aussie has been unable to break strongly above 0.8765 from the past few sessions. We now see good chances of the pair moving down towards 0.8600 in the coming sessions/days. Additionally, the 55 Week MA Resistance (0.8802) is holding strong which adds to our bearsih sentiments.
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