Alaron Currency Comment

CHICAGO - Jun 30/09 - SNS -- Following is the currency futures comment from Alaron Trading Corp.

The Dollar opened lower at 79.81, but rose sharply after a weaker than expected Consumer Confidence report sent equity markets tumbling and traders seeking the safe-haven of Treasuries and Dollars. Prices rose to a mid-day Hi of 80.64, before trailing lower into the close of 80.42, up 31 tics. The s/t trend remains 'negative' w/improving momentum indicators. Traders will key on equity markets  ahead of  Thursday's Non-Farm Payroll Report and the shortened trading week. Continued flight to quality  should support higher prices. A higher open should find Resistance at 80.81 and 81.20, while an open below 80.25 may find Support at 79.86 and 79.30.  

The Euro opened higher at our Pivot level of 1.4127 and retraced to a morning Lo at our initial Support level of 1.3998, as pressure from safe-haven buying in the Dollar weighed on prices. A mid-day bounce send prices higher into the close of 1.4040, down 41 tics. The s/t trend remains 'positive' w/firm momentum indicators. Longs should tighten 'stops' or buy 'puts' to reduce exposure. A lower open may find Support at 1.3976 and 1.3912, while an  open above 1.4062 should find Resistance at 1.4126 and 1.4212.

Bob Kozak

Alaron Research Team

800.462.4691

bkozak.com

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