Whilst the Greek conundrum still haunts the markets, the buck remains a little stronger against the majors after US data printed stronger than expected, helping the USDX bounce off the hrly 200 sma. The data also pushed commodities higher putting a bid tone into the Aussie and Canada.
Not a heck of alot to do now, with correlations still amiss. Although, both Aud/Usd and Aud/Jpy have broken and closed above their respective ma´s, I prefer to wait as indicators are mixed and slow stoch remains in an overbought state.
Keep an eye on trend res at 1.3670 Eur/Usd and 1.0705 Usd/Chf.
Wednesday, 17 February 2010
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