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BFI: Currency market commentary

04.07.2008 09:40 pi±tek

Good morning. With great pleasure we are presenting our forecasts for today.

EURUSD
After yesterday's rebound and fall below 1,5770 the rate will stay in consolidation between 1,5670-1,5790. Before the weekend there is a chance for a drop to 1,5610/30.

USDJPY
Today's range of oscillations is 106,20-107,10. Above 107,10 rise to 108,40 may occur.

USDCHF
We expect a dynamic return to 1,0310/30 as a strong resistance. Bounce off this level should lead to 1,0230.

GBPUSD
After a decline from 1,99/2,00 area, now the rate is expected to test 1,9780. Breach of this level may be followed a slump to 1,9710/9660 region. The most probable scenario for today is movement inside the range of 1,9780-1,9880.

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

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