Forex Market
EUR/USD Analysis
The eurozone Finmin meeting to agree on new bailout terms for Greece was still ongoing around the NY close, amid rising optimism a deal would be reached.
AUD/USD Analysis
The Australian dollar was lower late Wednesday after euro-zone finance ministers and International Monetary Fund officials failed to find a solution to Greece’s ongoing debt crisis.
USD/JPY Analysis
The pair is likely to maintain a firm undertone today in Asia amid lingering expectations that the Bank of Japan would have to ease the monetary policy further if the main opposition LDP wins the Dec.
Asian Currencies Technicals
AUD/USD: Looking Tired, Focus Topside For Now. The pair dipped below previous hourly support and we now look for a close below yesterday’s lows to end hopes of a retest of the upper Bollinger band.
Mid-Day FX Market Analysis
EUR: Opened early Europe at $1.2788, Euro-dollar slipped sharply after the NY close to $1.2767 as Moody’s cut France’s credit rating by one notch to Aaa1.
Technical Analysis
FX seems relatively slow but has anyway showed a muted reaction to improved risk appetite… EURUSD should however find resistance strong in the 1.2820-1.2830 area (if not, then at 1.28551.2880)…
Daily Market Technicals
EUR/USD: Back Below 200-Day Moving Average. The pair is back below the 200-day moving average and more importantly trades below the 21-day moving average and 1-month resistance line at $1.2836/52, respectively.
USD/JPY Analysis
Dollar-yen climbed to Y81.41 in late trade as risk appetite increased and US stocks rallied to the close, a Nikkei report that Abe would consider changes to BOJ law also seen behind the move.
GBP/USD Analysis
Cable closed in NY Monday at $1.5910, the rate recovered off pullback lows of $1.5898 in the US afternoon after earlier posting a high of $1.5918.
EUR/USD Analysis
Closed in NY Monday at $1.2815, the rate recovered off pullback lows of $1.2800 in the US afternoon as markets rallied on better prospects of a fiscal cliff resolution.
USD/JPY Analysis
The pair is likely to trade in a tight range today in Asia, before the Bank of Japan concludes a two-day policy board meeting.
Asian Currencies Technicals
AUD/USD: Upper Bollinger Expected To Cap Today. The sharp bounce from Friday’s spike below the 200-DMA continued to start the week and has seen immediate focus return to tests of the 21 day upper Bollinger band. Back below hourly support at $1.0363 is needed to relieve current topside focus and see Oct monthly lows come […]