Friday February 22, 2013 - 12:12:23 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 22-Feb-2013 -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 @ 0.9315/18...Mixed
R: 0.9320 / 0.9380 /
S: 0.9270 / 0.9240 / 0.9200
Dollar-Swiss has risen as the Dollar has strengthened further as the Dollar continues to gain strength. It currently is at the resistance on the short term charts at 0.9325-30. We are at an important juncture and it has to be seen as to how it pans out. Levels to look at are weekly closing on Euro (Hopefully above 1.3200) and Dollar-Index at 81.50-60.
GBP-USD @ 1.5263/66...While it stays below 1.5300-20 a further dip can be seen
R: 1.5300-20 / 1.5410
S: 1.5250-40 / 1.5150-30
Cable after facing resistance near 1.5300 has move down but is not seeing follow up selling. The view continues to remain bearish and we expect it to crack towards 1.5150-00 while it remains below 1.5300-20. A move above 1.5320 will negate the bearish view for the near term.
GBP 10K Short at 1.5257, SL 1.5328, TP Open
AUD-USD @ 1.0343/46...1.0375-85 is the level to be watched
R: 1.0320-30 / 1.0370-80
S: 1.0300 / 1.0230
Aussie has moved up through the day and can now rise to 1.0375-85 levels which is its strong resistance. We expect it to come down from 1.0375-85 and we would be looking to take shorts near the resistances. On the down side it needs to break its support of 1.0300 to see levels of 1.0230.
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