Forex Market
Technical Analysis
The aussie seems to be the prevailing underdog now, with SEK & potentially also the GBP set to continue to underperform… EURUSD is stuck in range and FIRMLY outside outside 1.2820-1.2970 is needed to see a directional tilt…
GBP/USD Analysis
Closed in NY at $1.6132 after pulling back from a session recovery high of $1.6188 as risk appetite was bruised by Spain PM Rajoy comments that Spain asking for aid was not imminent.
EUR/USD Analysis
Closed in NY at $1.2917 having corrected off a session high of $1.2968 as market reacted to comments from Spain’s Rajoy that a request for aid was not imminent.
Asian Currencies Technicals
AUD/USD: Potential For Fresh 2012 Lows. The AUD/USD finally managed a close below the 200-DMA ($1.0346) with the immediate focus now on the $1.0168-1.0237 region.
FX Market Analysis
EUR: Opened early Europe at $1.2900, Euro-dollar closed in NY at $1.2886 after rate had seen extended highs of $1.29395, off earlier Asian lows of $1.2804, with rate edging off initial pullback lows of $1.2877 into the close.
FX Market Technical Research
EUR/USD: Attempts Recovery Off 200-Day Moving Average. Euro-dollar attempts a recovery from the 200-DMA, which matches a minor rising support line at $1.2823.
European FX Daily
– RBA cut 25bps and sounds dovish – Korean inflation rose in September, but remains a non-issue – Light data calendar today
GBP/USD Analysis
Closed in NY at $1.6133 after correcting back from extended recovery highs of $1.6175 to late session lows of $1.6122. Rate opened Asia pivoting the $1.6130 level, dipped to $1.6125 before recovering to an initial high of $1.6140.
EUR/USD Analysis
Closed in NY at $1.2886 after rate had seen extended recovery highs of $1.2939, off earlier Asian lows of $1.2804, with rate edging off initial pullback lows of $1.2877 into the close.
AUD/USD Analysis
Aussie-dollar started the day near $1.0360 and then ran into selling pressure mainly through demand for euro-aussie cross, which eventually pushed aussie-dollar down to a $1.0352 morning low.
Asian Currencies Technicals
AUD/USD: Another Dip Below The 200-DMA. Another spike below the 200-DMA ($1.0345) for the pair keeps the pressure on lower levels, but a close below the 200-DMA is needed to see focus turn to retests of the Sept monthly lows at $1.0169.
FX Market Analysis
EUR: Opened early Europe at $1.2822, Euro-dollar closed in NY Friday at $1.2860 after rate had been pressed down from $1.2940 to $1.2838 on end month fix flows. Slow start into Asia with China, HK, Korea and Australia closed.