13.06.2001 08:34:00 TT-FX
USD/CHF..watch break either of 1.7808 or 1.7930 for next 100-150 pips move.
Failure to maintain a foothold above 1.7930 yesterday has seen the
pullback to 1.7858 alluded to yesterday. It is now encumbant on the USD to avert a relapse below 1.7808 (weekly trend-line support) as failure to do so would suggest recent losses were more than a simple correction thereby exposing further downside to 1.7719 (06-June low), with scope for 1.7665 on a break. The latter should provide a floor but please note, failure to do so would unlock 1.7565. Meanwhile on the topside, minimally the USD has to reclaim 1.7930 (former support), to relieve the near-term risk to the downside and instead re-focus attention on 1.7983 (61.8% retracement of decline from 1.8069). However, for the bigger picture renewed strength beyond 1.8069 is necessary in order to reinstate the broader bull. Aggressive intraday players should look to sell a break below 1.7808 or buy a break above 1.7930 in anticipation of the next 100-150 pip move.


13.06.2001 08:22:00 TT-FX
EUR/USD
This morning's price action is encouraging but we now need to see
renewed strength beyond 0.8569 (06-June high), to relieve the risk of another sell-off, confirm recent gains are not merely corrective and that a broader recovery attempt is underway targeting 0.8629 (25-May high), en route to the former breakdown level at 0.8695. On the downside, and in lieu of a successful assault on 0.8569, intraday support should be encountered at 0.8512 (today's low), ahead of 0.8462 (61.8% retracement of rally of 0.8410 low and consolidation area before recent bounce). The latter should provide a floor if seen and provoke a recovery but please note, failure to do so would suggest gains were merely corrective and initiate a resumption of the broader bear targeting 0.8410 en route to 0.8371. STRATEGY: Buy 0.8575 targeting 0.8685 with stops at 0.8510.


13.06.2001 08:05:01 TT-FX
Australia/Oil/Gold
Australia-consumner sentiment +14.8% in June, strong data, consistent with RBA being on hold for the moment..aud/usd trading higher triggering stops above 0.5280 but could not hold above and is lower again....range 0.5260 to 0.5320 expected.. the 200 day moving average at 0.5315 & long term downward trend should prove tuff to break
Oil-NYMEX futures up again..july future is up 40 cents at $29.58 today..after API data showed a 13 mln bpd fall in us crude stocks (mkt only had expected drop of 3mln) this offset OPEC's Rodriguez comment that group would supply more oil in july to make up supply shortfalls caused by Iraq's suspension..

Gold-Gold touched the high 272.20/272.50 briefly on higher aud but some offers in the market stopped the move... last 271.90/272.20.traders expect range trading $270 to $273.with selling interest expected ard 273 and major support at $267


Gruss
Frank

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