Euro/Usd weerstanden voor 9 maart 2011 Coming up Today (All Times GMT)
CHF CPI (8:15)
NZD Interest Rate Meeting (20:00)
The dollar was the big winner yesterday as it gained overall against major currencies. The move appears to be a belated reaction to last week’s better than expected Non Farm Payrolls figures as the lull in Libyan fighting has allowed Forex traders to concentrate on economic events. Looking ahead, the dollar rally could continue as little high impact US news is slated for release today.
EURUSD
A little bit of profit taking and some dollar buying caused the EURUSD to trade below its key 1.3940 support yesterday. As such, the pair’s post ECB Meeting rally has evaporated and Forex traders are now watching the 1.3860 support level. Any break below this level could trigger selling to the 1.3800 figure.
Support/Resistance 1.3800, 1.3860/1.3920, 1.4040
GBPUSD
GBPUSD weakness continues as the pair remains in a short term downtrend after falling below its key 1.6230 support on Monday. Nonetheless, selling pressure has backed off a bit as the pair easily rebounded to around 1.6160 after hitting a low of 1.6125 yesterday. As such, if the GBPUSD manages to trade above its morning resistance if 1.6170, it could trigger buying demand back towards yesterday’s high of 1.6210.
Support/Resistance 1.6125/1.6170, 1.6210 |