Intraday Market Thoughts

Archived IMT (2009.07.14)

by Ashraf Laidi
Jul 14, 2009 18:20

S&P Hotchart updated. As AUDNZD gradually retreats back towards the 1.24, look into exploiting strengthening NZD by applying fresh shorts in NZDUSD as stocks struggle to regain pre-Goldman Sachs earnings gains. Intels Q2 earnings after the bell (exp 8 cts/share) may impact the market, but any additional gains in NZDUSD towards 0.6370s are seen capped at 0.6400s. Same goes for Aussie being an attractive short near 0.7920 trend line resistance for interim target at 0.7850, followed by 0.7780s.


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