Friday July 30, 2010 - 12:09:26 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 30-Jul-2010 - 1205 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 1.0388/91...Ranged with a bullish bias
R: 1.0500 / 1.0550 / 1.0615-35
S: 1.0400-384 / 1.0348 / 1.0281
"We continue to hold our morning view on the pair."
Dollar-Swiss has continued its fall in US session yesterday and was ranged in the Asian session today. The pair is currently in the Support region of 1.0400-384 which has been holding since yesterday. We still see good chances of 1.0384 holding with a rise towards 1.0500-50 in the coming sessions today.
Overall we see good chances of the pair move in the range of 1.0400-600 before a break on the higher side is visible.
USD 10K Long at 1.0400, SL 1.0345, TP Open
GBP-USD @ 1.5605/08...Ranged
R: 1.5635 / 1.5700 / 1.5758
S: 1.5541 / 1.5487-66 / 1.5400
Cable fell to a low of 1.5552 in the European session today and is currently trading higher. The pair has been trading above the 200 DMA Support (1.5541) for the 4th day now and an immediate fall looks unlikely. In the US session today, there are chances that the markets might continue to trade in the range of 1.5550-650, followed by a break on the higher side in the next week.
Limit Sell Order:
Sell GBP 10K at 1.5700, SL 1.5780, TP Open
AUD-USD 0.8997/9000...May move up
R: 0.9045 / 0.9093 / 0.9150
S: 0.0.8950 / 8900 / 0.8862-42
Aussie has moved up in the European session today. There is an immediate Resistance at the 0.9010-15 region, which if holds, can pull the market down towards 0.8975-50, else a rally towards 0.9050-75 may be seen. We see higher chances of it going up towards 0.9050-75 in the US session today.
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