Intraday Market Thoughts

Archived IMT (2009.06.30)

by Ashraf Laidi
Jun 30, 2009 14:28

Dollar shakes-off previous selling and regains ground as equities pare gains, with oil breaking below $71. USDCAD lifts off 1.1510s onto 1.1578, looking to test prelim 1.1590, followed by key trend line resistance at 1.1635-40. Cable extended sell-off from 1.16744 to 1.6515 and looks like our $1.6470 could be hit as early as in the Asian session today especially after bigger than expected revision in UK GDP contraction. Whether cables daily candle is a shooting star or a gravestone doji, downside is the name of the game. As AUDNZD recovers off its 1.2378 lows, expect aggressive NZDUSD downside towards 0.6420s. More updates on


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