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UFXBank Forex News: Yen's 13 Days Comes to an End
Written by article default Tuesday, 04 January 2011 08:16
USD Dollar (USD) – The Dollar fluctuated mix across against the major currencies of Forex trading. The ISM Manufacturing Index came out 57.00 worse than expected 57.30. The Stock Markets in U.S. closed positive, as the Dow Jones rose by 0.81% and the NASDAQ strengthen by 1.46%. The Crude Oil strengthen by 1.54$ and closed at 91.38$ a barrel. The Gold (XAU) rose by 15.5$ and closed at 1421.4$ an ounce. Today, the FOMC Meeting Minutes is expected.
Euro (EUR) – The weakened against the dollar during the European section but after all closed almost unchanged. Holding above the support level of 1.33 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.3250 and with a high of 1.3395. No major economic data is expected today.
EUR/USD – Last: 1.3352
|
Resistance |
1.3400 |
||
|
Support |
1.3320 |
1.3275 |
1.3115 |
British Pound (GBP) – The Pound fell versus the dollar during the day after the big jump last Friday. The pair is located under the support levels 1.5500 and if the pair would not cross this resistance today it might fall below 1.5400. Trading below 1.5500 will change the positive momentum for the pound according the daily chart. Overall, GBP/USD traded with a low of 1.5433 and with a high of 1.5575. No major economic data is expected today.
GBP/USD - Last: 1.5488
|
Resistance |
1.5509 |
1.5600 |
1.6000 |
|
Support |
1.5450 |
1.5380 |
1.5350 |
Japanese Yen (JPY) – The Yen fell versus the dollar for after 13 days of wining. According the RSI, the momentum seems to be bearish and it might be the end of the long stretch down. If the pair remain above 81.50 it's possible will climb to 82.50 – the next resistance. Overall, USD/JPY traded with a low of 81.13 and with a high of 81.75. No economic data is expected today.
USD/JPY-Last: 82.08
|
Resistance |
82.47 |
82.76 |
83.40 |
|
Support |
81.00 |
|
|
Canadian Dollar (CAD) – Canada's strengthen vs. the U.S. dollar for the 10th day and ramin below 1.000 , As the oil strengthen too versus the dollar. The next support level is located at 0.9750. According the daily chart and the RSI , the momentum seems to be a strong bearish for the pair. Overall, USD/CAD traded with a low of 0.9888 and with a high of 0.9948. No economic data is expected today.
USD/CAD - Last: 0.9930
|
Resistance |
0.9980 |
1.0000 |
1.0055 |
|
Support |
0.9887 |
0.9750 |
|