Euro/Usd weerstanden voor 31 maart 2011

[Armijn]

Coming Up Today (all times GMT)
CAD - GDP m/m (12:30)
USD - Unemployment Claims Change (12:30)
USD - Natural Gas Storage (14:30)
Asian stocks traded higher in early morning trading, on the back of another day of rally for US equities, to later give back a lot of the gains as global concerns still persist. On Thursday, investors will be focusing their attention on the weekly unemployment claims report from the US. However, its significance is somewhat reduced this time, as traders are awaiting for the more important monthly NFP report that is due this Friday. A positive report could act as dollar positive, since it would suggest that more jobs would allow the Fed to tighten policy faster than later.

EURUSD

The pair was supported by fresh comments from Fed's Bullard overnight, with regards to the fact that there was no consensus amongst the members to cut short the QE II program. Furthermore, the common area currency received additional support when an ECB official said that the intention is to raise rates gradually, which some traders took as suggesting that more than one or two rate hikes may be due to come.

Support/Resistance: 1.4050/1.4195

GBPUSD

A modest rebound in January UK retail sales and service sector output have somewhat alleviated concerns of a very fragile recovery. However, the pound could still be underperforming its main rivals, especially against the euro, should the ECB move forward with raising interest rates next week.

Support/Resistance: 1.6010/1.6145