AUDUSD: The Australian dollar dipped slightly lower on Wednesday, thanks in part to some concerns ahead of Spanish bond and Italian T-bill auctions later in the week.
Australian job vacancies fell 3.3% in seasonally adjusted terms during the three-month period ended November 2011 from the previous three-month period.
We expect a range for today in AUDUSD rate of 1.02750 to 1.0390 (Yesterday we shorted the pair above 1.0300; the pair drop low 1.0260 then crawling back. We are now avoiding the trade, we expect the pair to head further north)
EURUSD: The euro dived below $1.27 against the dollar in late morning trade in Europe after Fitch Ratings warned Wednesday that the European Central Bank must do more to prevent a “cataclysmic” collapse of the euro.
The euro tumbled more than 0.4% against the dollar, with a London-based trader citing particularly heavy selling interest from short-term accounts. Overall, investors remained wary of placing new currency bets given lingering uncertainty about the prospects for the euro zone.
We expect a range for today in EURUSD rate of 1.2680 to 1.2800 (We missed out a fall from 1.2789, where we set to short at 1.2800. The pair headed low toward 1.2660 where our second target was.)
We entry long above 1.2700 ranges
Stop loss at 1.2650
Target at 1.2760 and 1.2830
USDJPY: While the U.S. economy’s prospects are brightening, significant problems remains and the environment still calls for considerable central-bank support
The central banker spoke in the wake of a wide range of economic data that show an improvement in the U.S. economy, and those numbers include better job growth relative to past months
We expect a range for today in USDJPY rate of 76.60 to 77.20
We set limit BUY order for USDJPY at 76.60
Stop loss at 76.10
Target 77.30 and 77.60
