| Support | 1.3900 | 1.3665 | 1.3350 |
| Resistance | 1.4575 | 1.4695 | 1.4940 |
Friday, July 29, 2011
EUR/USD Technical Analysis 29th July 2011
The euro broke the support level at it’s 100-day moving average (exponential) at 1.4215 and 38,2% Fibonacci correction of the rise from 1.2873 to 1.4939. This level acts as a resistance of the following upward move. If the pair breaks through this level next resistance level is expected at recent high at 1.4575, followed by 1.4695 and 1.4940. In the opposite direction next support level is 1.3900 direction first resistance is seen at recent high at 1.4575, followed by 1.4695 and 1.4940.
Thursday, July 28, 2011
Wednesday, July 27, 2011
Rupee hits 34-month high on weak dollar 27th July
The rupee climbed to its highest level in 34 months on Wednesday as the dollar fell overseas and strong Asian peers supported.
* At 10:05 a.m., the partially convertible rupee was at 43.9400/9475 per dollar, after touching 43.90, its highest since Sept. 10, 2008.
* The dollar touched a fresh four-month low against the yen on Wednesday as the U.S. currency came under broad pressure after the Australian dollar surged on data showing that Australian consumer inflation rose faster than expected in the second quarter.
* The index of the dollar against six major currencies was at 73.482 points, below 73.650 points when the rupee closed on Tuesday. The euro was trading at $1.4513, compared to $1.4480 previously.
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Tuesday, July 26, 2011
Forex - USD/CHF at record low as U.S. debt concerns weigh 26th July 2011
USD/CHF hit 0.8000 during European morning trade, the pair’s all-time low; the pair subsequently consolidated at 0.8022, shedding 0.45%.
The pair was likely to find support at 0.7800 and resistance at 0.8154, Monday’s high.
In an address from the White House on Monday, President Obama called on Republican and Democratic leaders to reach a fair compromise on raising the USD14.3 trillion debt ceiling, in order to avert a "reckless and irresponsible" national default ahead of the August 2 deadline.
Earlier Tuesday, a report showed that Switzerland’s UBS consumption indicator fell sharply in June, dropping to its lowest level this year.
The consumption indicator dropped by 0.4% year-on-year to 1.48 in June, led lower by a strong decline in new car registrations.
The report also warned that the strength of the Swiss franc may lead Swiss consumers to buy more products and services outside of Switzerland, leading to a further slowdown in consumer spending.
Meanwhile, the Swissie was slightly lower against the euro, with EUR/CHF easing up 0.18% to hit 1.1608.
Later in the day, the U.S. was to publish government data on new home sales, as well as data on consumer confidence and house price inflation.
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