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GBP/USD upside limited at 1.5865

GBP/USD upside limited at 1.5865 2011-01-14 12:53:58     Pound's recovery from 1.5400 area last week extended yesterday to 1.5885, 25, and the pair has remained trading in range today, between 1.5810 and 1.5865, right below December high, at 1.5910.On the upside, immediate resistance lies at 1.5885 (Jan 13 high), and above here, 1.5910 (Dec 13 high) and 1.5965 (Nov 23 high). Support levels lie at 1.5810 (session low), and below here, 1.5715 (Jan 13 low) and...

USD/JPY bounces at 82.40 and reaches 83.00 area

USD/JPY bounces at 82.40 and reaches 83.00 area 2011-01-14 12:12:56     The pair's retreat from 83.15 high yesterday has found support at 82.40 low to bounce up, fuelled by Dollar strength after China's banks reserves rate hike, returning to previous trading range reaching levels right below 83.00 at the moment of writing.On the upside, the pair might find resistance at 83.15 (Jan 13 high) and above here, 83.50 (Jan 11/12 highs) and 83.70 (Jan 7 high). On...

AUD/USD plunges below 0.9900 as China hikes RRR

AUD/USD plunges below 0.9900 as China hikes RRR 2011-01-14 11:08:29     Australian Dollar reversal has extended sharply after China increased banks' reserve rate requirements, which has damaged commodity prices, and retreat from 1.0020 high yesterday has broken below 0.9900 to day lows at 0.9870 so far.Gold prices have dropped from day opening prices at USD1.377 oz, to USD1.365 oz, while Oil prices dropped from USD91.10 day opening to USD90.20 low so far.Chinese government has...

USD/JPY retreat extends to week low at 82.40

USD/JPY retreat extends to week low at 82.40 2011-01-14 09:32:40     The Dollar is trimming last week's gains against the Yen amid widespread greenback weakness, extending its retreat from 83.70 below the last day's range floor, at 82.65, to reach fresh one-week lows at 82.40 so far.Below 82.40 session low, the pair might find support at 82.25 (Jan 4 low) and below here, 81.90 (Jan 5 low). On the upside, resistance levels lie at 82.65/80 (previous...

Euro Climbs despite Decline of Commodities

Euro Climbs despite Decline of Commodities 2011-01-14 07:10:53     The euro continues to show an impressive performance as optimism about the ability of the European Union’s leaders to deal with the region’s financial crisis grows every day.The size of the EU rescue fund may be increased as Angela Merkel, the Chancellor of Germany, admitted that she’ll go to any length to deal with the European problems. Jean-Claude Trichet, the President of the European Central Bank, signaled that...

AUD/USD correction reaches 0.9950

AUD/USD correction reaches 0.9950 2011-01-14 06:16:19     After facing strong resistance at the 1.0020 zone on Thursday, AUD/USD staged a pullback that has extended toward the 0.9950 during the current Asian session. However, the pair seems to have found some support at that area and has bounced slightly up.At time of writing, AUD/USD is trading at the 0.9960/65 zone, right where it started yesterday's Asian session, and only 30 pips above its weekly opening price, after...

EUR bullish momentum intact, inflation eclipses debt woes

EUR bullish momentum intact, inflation eclipses debt woes 2011-01-14 05:20:09     On Thursday Markets tend to re-act the most amid unexpected news. The outrageous revival of the Euro towards 1.3350 was buoyed not just by a well-supplied Iberian bond auction, Japan or China helping to support struggle economies or by talks of additional funds entering the EFSM.The catalyst of the big move was a fresh new subject, which stood in the limelight the rest of the day...

EUR/USD reaches 1.3170 high after Spain's debt auction

EUR/USD reaches 1.3170 high after Spain's debt auction 2011-01-13 11:27:48     Euro rally from 1.2860/70 lows on Monday has squeezed above 1.3145 session high successful Spain's debt auction, to reaching a fresh 4-week high at 1.3170 to ease below 1.3145 shortly afterwards.On the upside, above 13070 (Jan 6 high/session high), the pair might find resistance at 1.3190 (intra-day level) and 1.3260 (Daily Pivot Point R2). On the downside, support levels are 1.3080 (session low/weekly pivot point),...

EUR/USD, enclosed at 1.3080, bounces above 1.3100

EUR/USD, enclosed at 1.3080, bounces above 1.3100 2011-01-13 10:30:48     EUR/USD recovery from 4-month lows at 1.2860/70 extended yesterday to resistance at 1.3145, and the pair eased on Asian session to find support at 1.3080 a bounce up to 1.3120 area ahead of the European session opening.On the upside, immediate resistance lies at 1.3145 (Jan 12 high), and above here, 1.3170 (Jan 6 high) and 1.3190 (intra-day level). On the downside, immediate support lies at 1.3080...

EUR/USD, contained at 1.3080, bounces above 1.3100

EUR/USD, contained at 1.3080, bounces above 1.3100 2011-01-13 09:37:18     EUR/USD recovery from 4-month lows at 1.2860/70 extended yesterday to resistance at 1.3145, and the pair eased on Asian session to find support at 1.3080 an bounce up to 1.3120 area ahead of the European session opening.On the upside, immediate resistance lies at 1.3145 (Jan 12 high), and above here, 1.3170 (Jan 6 high) and 1.3190 (intra-day level). On the downside, immediate support lies at 1.3080...
 
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