Forex-Metal Daily Analysis -14/06/2011

Forex-Metal

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Jul 12, 2010
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New earth-quakes in New-Zealand pressured the national currency.

Asian and European trading session:
New-Zealand Dollar: Two new earth-quakes were recorded in New-Zealand today, which reduced the New-Zealand dollar rate against the greenback.
Euro: The EUR/USD pair traded in the range of $1.4320-$1.4360 during the morning trading. Financial problems of Greece reinforced their pressure on the euro. The S&P credit agency decreased the rating of Greece again. But the euro managed to keep strength against the US dollar.
Market participants are watching closely the discussion of the EU and the IMF regarding the bailout package for Greece.
US Dollar: US Dollar weakened against its major competitors today.
British Pound: The GBP/USD pair traded in the range of $1.6215-$1.6245. Sterling started to grow and reached the $1.6300 level during the European trading session.
Japanese Yen: The USD/JPY pair grew to the Y80.69 level as the Japanese yen weakened over the speculations that the bank of Japan would introduce new measures to stimulate the Japanese economy.
Oil: Oil rate decreased to the $98.26 mark per barrel.
Gold: The gold price dropped as well and reached the $1,528 minimums per ounce.

American trading session:
Euro: The EUR/USD pair reached the $1,4400 maximum during the American trading session.
Japanese Yen: The Japanese yen managed to stabilize during the American trading session, since the demand for the risky assets started to decrease.
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Technical analysis for 14/06
EURUSD
The pair declined to 1.42996. If this level is broken the pair will decline to Moving Average (100) at 1.41780.
Resistance: 1.44400, 1.46222, 1.47342
Support: 1.42996, 1.41780, 1.40690
GBPUSD
The pair has declined to Moving Average (100) at 1.62050.
Resistance: 1.63316, 1.64636, 1.65706
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair has reached 0.84685. If this level is broken the pair will rise to 0.85939.
Resistance: 0.84685, 0.85939, 0.87214
Support: 0.83541, 0.82483, 0.81356
USDJPY
If the pair stays below 80.438 the pair may decline to 79.707.
Resistance: 80.438, 81.399, 82.219
Support: 79.707, 79.070, 78.345
AUDUSD
The pair has declined to 1.05332.
Resistance: 1.06164, 1.07005, 1.07739
Support: 1.05332, 1.04407, 1.03535
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