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Waluty: Currency market commentary

15.06.2009 10:57 poniedzia³ek

Good morning. With great pleasure we Gould like to present our daily currency market info for today.

EURUSD
The pair is likely to move between 1,3840-1,3960 however in case the level of 1,3820 is broken we may witness rapid falls to 1,3710 or even 1,3640.

GBPUSD
After the bounce off 1,6620 is currently sliding towards 1,6230/1,6210. In our opinion the pair within next  trading days is expected to experience a corrective movement leading as low as 1,5800/1,5520 and these levels would be proper for a long mid-term positions.

EURJPY
Seen in wide trading range 135,20-139,20. Downside rebound will initiate falls towards 131,50.

USDCHF
After a long period of appreciation of the franc against the dollar correction is expected. Its rage we assess at least for  1,1010/1,1060. Long positions are recommended due to the macroeconomic data coming from Switzerland this week.

Risk of the SNB’s intervention should be taken into consideration.

For more comments and recommendations please visit our website www.bavariafund.com








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