Monday November 8, 2010 - 12:12:49 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 08-Nov10-2010 - 1210 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 @ 0.9674/77...Sell Rallies
R: 0.9704 / 0.9750 / 0.9825
S: 0.9600 / 0.9550 / 0.9477
Dollar-Swiss has seen some more upmove since our morning comments today and we still continue to hold our morning view on the pair today.
Dollar-Swiss touched a high of 0.9670 this morning and may see some more upside towards 0.97 in the coming sessions today. We may see the upside on the pair capped near 0.9700-50 followed by some dip towards 0.9650-00 in the US session today.
GBP-USD @ 1.6123/26...Chances of some fall
R: 1.6200 / 1.6250 / 1.6307
S: 1.6100 / 1.6000 / 1.5967
Cable dipped a little in the European session today and we continue to hold our morning views on the pair today.
Cable touched a high of 1.6213 in the Asian session today followed by a dip below 1.6150. The pair is currently trading below the suggested max low for the day (1.6152) and a failure to recover above 1.6150 may see the pair fall towards 1.6000 in the coming sessions over today and tomorrow. However, a recovery above 1.6150 may see it move up towards 1.6200-30 in the US session today.
AUD-USD @ 1.0097/100...May dip further
R: 1.0180 / 1.0225 / 1.0300
S: 1.0036 / 1.0000
As expected, Aussie dipped further in the European session today to touch a low of 1.0078 followed by some upmove above 1.0100. In the coming sessions over today and tomorrow, the pair may see some more dip on the pair below 1.0050 from where we may see some pull back above 1.0100. The Suggested max low for the day 1.0036.
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