DAILY FOREX NEWS BY UBP, 14 06 2012

EXCHANGE RATES

Currency Support II Support I Level Resistance I Resistance
EURUSD 1.2120 1.2320 1.2570 1.2820 1.3000
GBPUSD 1.5000 1.5250 1.5510 1.5600 1.6000
EURGBP 0.7800 0.7920 0.8100 0.8200 0.8350
USDCHF 0.9330 0.9480 0.9550 0.9780 0.9950
USDJPY 77.00 77.50 79.40 80.00 81.60
USDCAD 1.0050 1.0200 1.0280 1.0500 1.0750
EURCHF 1.1970 1.2000 1.2010 1.2250 1.2380
EURJPY 95.00 96.00 99.80 103.00 105.00
XAUUSD 1530 1560 1620 1630 1640
XAGUSD 26.00 26.50 29.00 30.00 31.20

EVENTS & MEETINGS

Bank of Italy releases Apr. Public Finance supplement. 10:00Gmt
Bundesbank president Weidmann & Luxembourg PM Juncker speak.
14:30Gmt
Italian premier Monti, France president Hollande meet in Rome.

VIEWS & TRADING IDEAS

EUR/USD

Little action yesterday, the pair made an attempt on the upside
but stopped its run at 1.2610. Again this 1.2620/30 level is the
resistance to watch for short term players. Greek elections will take
place this week end and this is the event everyone is waiting for. We
expect the market to keep trading within the 1.2300-1.2630 range till
the end of the week as investors may not will to take risks ahead of
this event.

GBP/USD

Cable was initially up but found again some good resistance at
1.5600. We still expect a pull back to the 1.5300 low of the range as
upside seem limited above 1.5600. The pair should remain trading
within this 1.5350-1.5600 until Friday.

USD/CHF

The pair is in consolidation move with support standing at
0.9480/0.9500 and resistance at 0.9780. We expect the pair to keep
trading within this range for the next sessions favouring to buy the
weaknesses ahead of the 0.9480 support. On the eur/chf cross, a lot of
talks are going about a possible exit of Greece. It would obviously
put some pressure on the pair and the SNB would then be tested.

USD/JPY

Very boring range for the pair which is stabilizing within the
79.00/79.70 range for more than a week. We don?t expect much more for
today.

AUD/USD

The Aussie tested again the parity and was unable to overtake this
level again. The pair should stay within the 0.9600-1.0000 range in
the coming days.

USD/CAD

The pair is still within the 1.0200-1.0450 range and there is no
evidence we will exit it very soon. We keep playing that range with
appropriate stops.

Commodities

The US poor figures yesterday reminded Bernanke to the good memory
of the participants and the possibilty to see a QE3 plan. 1630$ is the
real resistance for now to be challenged and on the downside 1615$
followed by 1600$ more importantly. The mood remains bullish in the
market so far. Of a note, important Hedge funds bought nearly 1
million onces of the 1900 calls 1 year paying nearly 27pct vol

******

Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım
danışmanlığı kapsamında değildir. Yatırım danışmanlığı hizmeti,
aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen
bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı
sözleşmesi çerçevesinde sunulmaktadır. Burada yer alan yorum ve
tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine
dayanmaktadır. Bu görüşler mali durumunuz ile risk getiri
tercihlerinize uygun olmayabilir. Bu nedenle, sadece burada yer
alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize
uygun sonuçlar doğurmayabilir.

*******

Foreks Haber Merkezi ( [email protected] )
http://www.foreks.com
http://twitter.com/#!/ForeksTurkey