Intraday Market Thoughts
Archived IMT (2010.01.18)
by
Jan 18, 2010 19:42
EURUSD now at risk of retesting the elusive 200-day MA of $1.4280, especially if it fails to reclaim the preliminary resistance of $1.4450. The lack of first category economic release this week from the US and the Eurozone gives way to the round of earnings releases from the major US banks, which will influence overall risk appetite and the US dollars recently improving foundation. UK Dec CPI tomorrow exp +2.6% y/y from 1.9% could further prop GBPUSD back above the $1.6350 resistance (50% retracement), but a close above it would be convincing if we close above $1.64.
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