Friday, 8 April 2011

Forex: EUR/USD makes it to 1.4400, up 0.70%

FXstreet.com (Barcelona) - Asian investors have turned their full attention to the Euro as the buying mood gathers momentum, riding prices higher to the extent that EUR/USD just touched the next big round number at 1.4400 after a sizeable barrier option at 1.4375 was pierced minutes ago.

So far in Asian trade, the Euro has completed a 100 pips upswing, taking the price from an open at 1.4300 all the way up to mentioned highs, presently consolidating gains at 1.4390. The slight hawkish comments from Trichet after the ECB rate hike along with fears of a Govt shutdown in the US have fueled the enthusiasm.

On the upside, next resistance is seen at 1.4440, while on the downside, 1.4350 should act as a value are to buy on dips. 


Forex: EUR/AUD trimming losses, away from 5-week low

 

FXstreet.com (Barcelona) - After being unable to make fresh new lows at 1.2900 vicinity early this year, EUR/AUD rallied strongly on anticipation of the rate hike campaign the ECB seems to have embarked upon, with April 7th marking the first of what may be a series of hikes this year.

The wild uplegs seen faltered abruptly mid last month around 1.4300 amid investor's incredulity to the large reversal from the Aussie, that sent price back towards 1.3600 support early this month.

In recent days, range bound conditions have prevailed yet since the bright jobs report released by the Australian Government yesterday, with unemployment rate falling to 4.9%, risk has shifted to the bottom side again, where the Aussie tested levels below 1,3600 briefly yesterday before being snapped back up into the range. Pair is on bullish tone at 1.3700 now in Asia.

From a daily perspective, a clear break to the downside may expose 1.3500 support ahead of 1.3400. Meanwhile, on the upside 1.3800/50 seems to be the next solid resistance.  

Forex: Asia sends Dollar south as US Govt shutdown is priced in

 

FXstreet.com (Barcelona) - With the option of having a US government shutdown being priced in by Asian traders, the Dollar was prompted by heavy selling over the past few hours. The latest reports are suggesting that the budget impasse between Obama, Reid and Boehner has failed after long talks. Euro is the major beneficiary.

EUR/USD remains trading at fresh 2011 high just below 1.4370, GBP/USD is picking up momentum towards 1.6360, USD/CHF dipped to 0.9130, AUD/USD is approaching 1.0500. USD/JPY is the only exception where dollar continued to add in recent gains, although the pair is off its highs now. Metals are also driving through new highs too. 


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