Forex Market
USD/JPY Analysis
Dollar-yen failed to break Y79.00 in Europe yesterday, the rate met strong resistance at Y78.96 and ground lower to Y78.88 around the NY close.
Asian Currencies Technicals
AUD/USD: Initial Resistance Continues To Cap. The Oct 11 highs confirmed their significance as initial resistance overnight with the pair failing just ahead.
FX Market Analysis
EUR: Opened early Europe at $1.2974, Euro-dollar ground lower in early Asian trade to $1.2942 before meeting demand in the dip, the pair extended gains and rallied to $1.2976 on hopes Spain could soon request a bailout.
European FX Daily
– Asian stocks and currencies gained – NZ inflation surprised weak – Likely modest improvement in German Zew
Technical Analysis
Most markets seem tucked into ranges – EURUSD inside 1.2825-1.3072 is no exception… EURJPY is allowed to lift to test resistance on slightly better risk appetite…
FX Market Technical Research
EUR/USD: Daily Bolli Bands Narrow, Focus On Sep Resistance. EUR/USD ranging sideways within a flag pattern, while the daily Bollinger bands begin to narrow indicating decreased volatility.
GBP/USD Analysis
Closed in NY Monday at $1.6070, the rate having recovered off early European lows of $1.6021 and consolidated gains amid light flow. Early demand in Asia lifted cable to $1.6083, before a bout of profit take sales and aided by broad dollar strength pressed to $1.6060.
EUR/USD Analysis
Closed in NY Monday at $1.2965, the rate recovered from a pullback low of $1.2929 after earlier posting a high of $1.2978. Euro-dollar ground lower in early Asian trade to $1.2942 before meeting demand in the dip, the pair extended gains and rallied to $1.2976 on hopes Spain could soon request a bailout.
USD/JPY Analysis
Dollar-yen printed highs of Y78.76 on better than expected Retail Sales data, others say demand attributed to the Softbank – Sprint Nextel deal.
Asian Currencies Technicals
AUD/USD: 200-DMA Key Topside. The bounce from session lows overnight fell just short of the 100-DMA ($1.0273) with above the Oct 11 highs needed to relieve the downside pressure and bring the 200-DMA back into focus.
FX Market Analysis
EUR: Opened in early Europe at $1.2910, Euro-dollar nudged higher on the Asian open touching $1.2962, before supply from a US name pressed lower.
Technical Analysis
Hard to find anything really exciting…. AUDUSD having completed a minor bounce and stands ready to try lower, EURUSD stuck in a narrowing range, USDJPY bear triangle suggests selling to appear ahead of 78.68,