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UFXBank Forex News: Signs of Recovery Push Investors Away from USD
Written by article default Friday, 31 December 2010 00:00
USD Dollar (USD) – The Dollar weakened across the board as signs of economic recovery in U.S. pushed the investors for higher yielding assets. The Stock Markets in U.S. closed almost unchanged as the Dow Jones fell by 0.14% and the NASDAQ weakened by 0.15%. The Crude Oil fell by 1.4 % and closed at 89.84$ a barrel. The Gold (XAU) fell by 0.5% and closed at 1405.9$ an ounce. Today, no economic data is expected.
Euro (EUR) – The Euro climbed versus the dollar in Forex trading. Holding above the support level of 1.33 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.3219 and with a high of 1.3314. No economic data is expected today.
EUR/USD – Last: 1.3291
|
Resistance |
1.3400 |
1.3500 |
|
|
Support |
1.3275 |
1.3213 |
1.3115 |
British Pound (GBP) – The Pound fell versus the dollar during the American session and traded around the 1.5440 levels. Trading above 1.5400 supports will keep the momentum positive for the pound according the daily chart. Overall, GBP/USD traded with a low of 1.5367 and with a high of 1.5536. No economic data is expected today.
GBP/USD - Last: 1.5439
|
Resistance |
1.5453 |
1.5509 |
|
|
Support |
1.5380 |
1.5353 |
|
Japanese Yen (JPY) – The Yen posted gains versus the dollar despite risk appetite among the investors as government bond yields declined in U.S. Holding below the key resistance level of 81.50 keeps the negative momentum for the pair. Overall, USD/JPY traded with a low of 81.29 and with a high of 81.85. No economic data is expected today.
USD/JPY-Last: 81.49
|
Resistance |
81.80 |
82.50 |
83.40 |
|
Support |
81.43 |
81.25 |
|
Canadian Dollar (CAD) – Canada's closed almost unchanged vs. the U.S. dollar, although traded in very tight range and currently fluctuating around the parity level. Only breaking the 0.9980 support area will extend the decline in the pair, otherwise a rebound back to 1.01 zones is possible. Overall, USD/CAD traded with a low of 0.9991 and with a high of 1.0022. No economic data is expected today.
USD/CAD - Last: 1.0003
|
Resistance |
1.0055 |
1.0110 |
1.0210 |
|
Support |
0.9980 |
|