Intraday Market Thoughts

Archived IMT (2009.12.30)

by Ashraf Laidi
Dec 30, 2009 3:36

USD strength continues to reassert itself at the slightest sign of a pullback in equities, but CAD and CHF remain relatively robust against the US currency. USDCHF continues to offer opportunities for range-bound traders between 1.0390 and 1.0300. There is no change in our positive bias in USDJPY favouring 92.20s and 92.60s especially as the Japanese currency proves daily that fundamental weakness is here to stay for at least 3-4 weeks. GBPUSD also shows no signs of breaking from its downtrend, now eyeing a retest of $1.5800. GBPCHF remains vulnerable to retesting 1.6460s


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