EUR/USD – leveraged sellers cited for adding the extra weight to take rate through its overnight low at $1.2760, with stops adding to the selling to take rate down to $1.2748 ($1.2749 61.8% $1.2720/96). Rate currently trades around $1.2752
AUD/USD – easing back towards $1.0300 after a strong performance in Asia this morning which saw highs of $1.0324. Gains were triggered earlier by some strong building approval data and generally firmer Asian bourses which also led to fresh lows in the EUR/AUD cross of A$1.2393. Talk of some bids $1.0285/90, with offers towards $1.0340. Aussie trades
$1.0304/06
EUR/AUD – posting fresh all time lows against the EUR with a recent print of A$1.2381, as market continues to react to stories that Ireland may require a 2nd bailout. AUD/USD remaining firm with bids towards $1.0280 containing recent sales. AUD/USD trades around $1.0290 with the cross around A$1.2385.
EUR/PLN – the cross traded flat overnight in a tight range, traders note of a spike down to Pln4.4500, with an immediate bounce back to Pln4.4830, this was confirmed as a mis hit. The pair slipped late into Asia, opening the European session around Pln4.4820, local flow pressed the rate to Pln4.4782 but ran into strong demand from a London clearer sitting on the bid. Rate recovered to Pln4.4850, before easing in thin dealings to Pln4.4836. Support seen at Pln4.4660/50 (Pln4.4664 – 6 Jan low), through here opens Pln4.4410/00. Reported offers at Pln4.4970/80, ahead of Pln4.5230/40 (Pln4.5235 – 5 Jan high).
EUR/HUF – The HUF continues to rebound from recent lows against the EURO on hopes that Hungary will agree a finance deal with the IMF, giving a boost to all Eastern European crosses in the area. The pair slipped late in Asia from Huf315.80 to Huf314.50 on EUR/USD gains, before flat trade seen ahead of the European open where the cross currently deals Huf314.80. Markets again expected thin with moves dictated by headlines and EUR/USD. Support seen at Huf312.10/00, ahead of Huf310.20/00. Reported offers at Huf316.00/20, a break opens Huf319.30/40 (Huf319.33 – pre Fitch downgrade levels).
EUR/CZK – the currency pair opened at Czk25.760 and lifted to Czk25.824 with demand seen from offshore, before easing to Czk25.809 in current dealings. Resistance seen at Czk25.875, a break opens Czk25.965. Reported bids at Czk25.675, more at Czk25.600.
EasyForexNews Research Team