FX Daily Hotline
Following the mid-January dive to oversold levels against the Swiss Franc, many currencies have been clawing their way back upwards. Here we show the US Dollar v Swissie, and this is one of the rates to have plotted a 'Peak' Key Day Reversal on Friday. That feature, from SF0.9536 in this case, may well have capped the counter rally, though one observes that the Swiss unit is slipping in this morning's session, with the US$ currently changing hands at SF0.9455. Still, a new recovery high is required to remove the danger of a further pullback.
After two sessions in the 'Losers' table versus the Japanese Yen, the Swiss Franc has made an appearance in the 'Gainers' list, with +1.2%. Also, a 'Trough' Key Day Reversal is plotted from Y124.391. A drop under that level would be needed to offset potential for a further recovery towards initial resistance near Y130.
The Australian Dollar has recorded a 0.7% gain versus Japan's currency. The chart displays the Aussie reasserting the recovery from this year's earlier low towards late-January resistance at Y94.627, which is close to the 50-day moving average. Note that line has recently acted as a barrier.
The Aussie has steadied against the New Zealand Dollar. Finding support at NZ$1.0301 on 19 February means that the last remaining historic chart support at NZ$1.0285, plotted in mid-1997, has survived. Also, following Friday's action, there are also hopes for an additional 'bear trap' recovery over the short term.
We continue to monitor the charts for the Kiwi against its US counterpart, with a view to selling should downtrend resistance be encountered hereabouts (see hotline for 17 February). The rate was priced at US$0.7492 a short time ago.
|TWI SFSP||Swiss Franc Index||146.57||+1.0%|
|AUDCAD||Australian Dollar/Canadian Dollar||0.9828||+0.9%|
|AUDBRL||Australian Dollar/Brazilian Real||2.25||+0.7%|
|AUDJPY||Australian Dollar/Japanese Yen||93.346||+0.7%|
|NZDCHF||New Zealand Dollar/Swiss Franc||0.7061||-1.1%|
|Date||Stock||Code||Type||Open Price||Current Price||% P&L||Target||Stop|
|10 Feb 2015||Euro/Pounds Sterling||EURGBP||Short||0.7422||0.739||+0.43%||0.765|
- We watch to sell NZ$ v US$.
|DXY||US Dollar Index||Rally towards the mid-2003 peak near the psychological 100 level flattens.||94.253||-0.2%||91.514/93.25?||99.49/95.481|
|EUR||Euro/US Dollar||Pauses the oversold fall above the Sept 2003 low.||1.1381||+0.1%||1.0765/1.1098||1.2886/1.26|
|GBPUSD||British Pound/US Dollar||Holds the recovery to supply starting near 1.55.||1.5399||-0.1%||1.4814/1.4952||1.5826|
|CAD||US$/Canadian Dollar||Advance towards the 2008/2009 ceiling flattens.||1.2531||+0.3%||1.1803/1.2352?||1.3065/1.2799|
|JPY||US$/Japanese Yen||Advance yields to ranging beneath the early-Dec high.||119.03||+0.1%||113.86/115.57||124.14/121.85|
|ZAR||US$/South African Rand||Failed break over the Dec/Jan ceiling near 11.8 and 2008 peak (11.8723) leads to a 'bull trap' reaction. Intraday support is noted at 11.546.||11.6426||-0.3%||10.906/11.2575||12.135/11.8926|
|KRW||South Korean Won per 1 US Dollar||Extends the range forming beneath the Nov/Dec highs.||1112.15||+0.3%||1045.58/1072.15||1111.7|
|CHF||US$/Swiss Franc||Recovery from oversold finds resistance with a 'Peak' KDR||0.9382||-1.2%||0.7406||1.024/0.9536|
|EURGBP||Euro/Pounds Sterling||Holds the downtrend.||0.739||+0.2%||0.7089||0.7715/0.7592|
|EURJPY||Euro/Japanese Yen||Recovery is still struggling near the 20 Jan high (137.64).||135.51||+0.2%||127.98/130.15||149.78/137.64|
|EURCHF||Euro/Swiss Franc||Recovery from oversold pauses with a 'Peak' KDR.||1.0676||-1.1%||0.8517||1.2097/1.0812|
|GBPJPY||GBP/Japanese Yen||Reasserts the February rally towards the Dec highs.||183.303||-0.0%||171.077/175.508||189.714/187.803|
|GBPCHF||GBP/Swiss Franc||Recovery from the oversold Jan low finds intraday resistance at 1.4688. Plots a 'Peak' KDR.||1.4448||-1.3%||1.1729||1.5589/1.4688|
|CHFJPY||Sfr/Japanese Yen||Correction from overbought pauses with a 'Trough' KDR.||126.834||+1.2%||112.123/114.085||155.367/130.069|
|AUDJPY||Australian Dollar/Japanese Yen||Holds the recovery from oversold.||93.346||+0.7%||88.244/89.377||98.415/94.627|
|AUDNZD||Australian Dollar/New Zealand Dollar||Steadies above the mid-1997 floor (1.0285). Failed break under the Jan low (bear trap).||1.0421||+0.5%||1.0285/1.0301||1.0869/1.0798|
|AUD||Australian Dollar/US Dollar||Oversold fall flattens but holds downtrend resistance at the 50-day MA.||0.7839||-0.0%||0.7451/0.7626||0.8025/0.7876|
Copyright 2015 by Stockcube Research Ltd.