Euro/Usd weerstanden voor 15 maart 2011

[Armijn]

Coming up Today (All Times GMT)
EUR German ZEW Economic Sentiment (10:00)
USD TIC Long-Term Purchases (13:00)
USD FOMC Statement (18:15)
USD Federal Funds Rate (18:15)
Risk aversion has been evident across the board on Tuesday, as global investors have been focusing on the deteriorating situation in Japan, in what has been characterized as the most severe nuclear crisis since the one in Chernobyl of Ukraine in 1986. A fresh explosion in two nuclear reactors and a warning by the French embassy that a low-level radioactive wind could be soon approaching Tokyo sent Asian shares plummeting. Nikkei took a dramatic plunge, sinking by around 10%, as investors sought safe havens. The yen initially spiked higher against the dollar, to ease down later on speculation for more intervention by the BOJ.

EURUSD

The pair continued to show strength, climbing higher to test the 1.40 barrier, after ECB's Smaghi made some comments on Monday about the need to gradually re-normalize the interest rate environment. Speculation has been mounting for an imminent rate hike in the next meeting, after ECB's Trichet hinted during the recent Conference that higher interest rates could be utilized to protect against a potential commodity led inflation. However, gains for the common area currency were capped, mainly due to EUR/JPY selling on the back of the escalating nuclear crisis in Japan.

Support/Resistance: 1.3915/1.4035

GBPUSD

The cable was also stronger on Monday, after Fitch re-affirmed the AAA rating on the UK, and also confirming a stable outlook. In spite of this, the Japanese induced risk aversion climate has restrained the pound's advance, as investors sought refuge in more safe currencies like the yen and the dollar.

Support/Resistance: 1.6095/1.6245