Wednesday September 29, 2010 - 12:31:54 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 29-Sep-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 @ 0.9761/64â€¦Bearish
R: 0.9805-25 / 0.9865 / 0.9950
S: 0.9680 / 0.9635 / 0.9500
Dollar-Swiss moved up to trigger our TSL at 0.9810 (at cost). The pair may see some sideways movement before we see another dip on the pair over today and tomorrow. However, there are chances that the pair may see some upmove before a downmove where we may want to sell for an eventual downmove in a couple of days.
For trading purposes, we would like to stay out for a while and would want to get in once we have some more clarity on the pair.
GBP/USD @ 1.5800/03â€¦Resistance at 1.5835 holds
R: 1.5830-50 / 1.5900-20 / 1.5960-70
S: 1.5750 / 1.5680 / 1.5635
Cable touched a high of 1.5874 in the European session today and is currently trading below 1.5700. The pair has again honoured the Resistance at 1.5835 and may see some more dip towatds 1.5730-00 in the coming sessions today where it may be worth buying for an upmove on the pair in a couple of days. However, a daily close above 1.5635 may take it up towards 1.5950-70 by the end of the week, however, a failure to break above it may bring it down towards 1.5700-650 by Friday.
AUD/USD @ 0.9721/24â€¦Resistance at 0.9750
R: 0.9680-700 / 0.9750 / 0.9820-40
S: 0.9634-22 / 0.9587 / 0.9500
Aussie has moved up further and is trading just above the important level of 0.9700. In the coming sessions today, the pair has some important Resistances at the 0.9735-50 region which may not be broken easily. Please note that the suggested max high for the day is 0.9750. A daily close above 0.9700 may take it towards 0.9800; however, a failure to break above 0.9700 may see some more sideways movement on the pair in the coming sessions.
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