Intraday Market Thoughts

Archived IMT (2010.02.18)

by Ashraf Laidi
Feb 18, 2010 19:09

The 9-day consolidation in GBPUSD gives way to renewed testing of $1.5550, a drop below which calls up $1.5530. Risk for $1.5480 next week stands at more than 50%. Rebounds remain limited to $1.5680. Canadian dollar stands among the top performers of the day on higher than expected CPI, but the unfolding risk environment places a cap at 87.55 in CADJPY (61.8% retracement of 90.61-82.33 move) and a support at 1.0430 in USDCAD (61.8% retracement of 1.0233-1.077 rally).


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