Monday August 30, 2010 - 11:47:48 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 30-Aug-2010 - 1145 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 1.0286/89...Resistance at 1.0350
R: 1.0350 / 1.0400 / 1.0450
S: 1.0218-00 / 1.0129-00
Dollar-Swiss has not moved much since the Asian session today. We continue to hold our view of an upmove towards 1.0350 on a break above 1.0300 in the US sessions today. The chances of a break above 1.0300 is 60%. However, we see less chances of a strong break above 1.0350 in the coming days.
We continue our bearsih stance on the pair with high chances of a fall towards 1.0150-100 in the next 7-10 days.
GBP-USD @ 1.5558/61...Ranged
R: 1.5590-600 / 1.5639 / 1.5700
S: 1.5450 / 1.5324-16
Cable has moved up to touch a high of 1.5576 in the European session today. In the US sessions today, we may see the pair move down towards 1.5500-450 before another rise towards 1.5500-50 tomorrow. Please note that 1.5447 is the 200 DMA Support and 1.5446 is the suggested max low for the day.
AUD-USD 0.8983/86...Buy dips
R: 0.9000 / 0.9067-87 / 0.9239
S: 0.8900-90 / 0.8860-50 / 0.8777
"We continue to hold our morning view on the pair today."
Aussie honoured the Support at 0.8850 on Friday and has moved up. While above 0.8900, there are chances of the pair moving up towards 0.9100-200 during the week. In the coming sessions today, the pair may come down towards 0.8950-00, followed by a rise towards 0.9050-100 over today and tomorrow.
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