Intraday Market Thoughts
Archived IMT (2010.07.13)
by
Jul 13, 2010 17:03
OIL TESTS 200-DAY MOVING AVERAGE (77.33) for the 1st time this month, probing the 1.0286 support (61.8% retracement of the 0.9928-1.0866 rally), a breach of which is apt to call up 1.0220s. The fact that CAD has outperformed crude oil over the past 2 months intensifies CADs prospects during advancing energy prices. USDX loosk to test 83.15--38% retracement of the 74.17-88.80 rally. 83.15 also coincides with the 100-day MA. A close below 83 this week would be highly rewarding to CAD & CHF.
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