Intraday Market Thoughts

Archived IMT (2009.06.15)

by Ashraf Laidi
Jun 15, 2009 16:18

GREEN SHOOTS or ASTROTURF? FX trades having a ball with buying USD and JPY against the major currencies. Aussie eyes 0.7880, NZDUSD eyes 0.6220, while EURUSD tests the all important support of $1.3770, which is 38% retracement of the $1.2887-$1.4331 decline. Any intensification of the decline beyond that point could call up the $1.3610 level. USDX eyes 82.5 as key resistance on weekly chart.


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