All eyes are on Ben Bernanke at the economics conference at Jackson Hole, to see whether there is any signal for further QE, round 3

<p>EUR/USD Range: 1.4371 – 1.4446 Support: 1.4450 Resistance: 1.4370 Euro-dollar closed in NY at 1.4390, off pullback lows of 1.4327. Rate initially eased to 1.4370 […]</p>

EURUSD
EUR/USD
Range: 1.4371 – 1.4446
Support: 1.4450
Resistance: 1.4370
Euro-dollar closed in NY at 1.4390, off pullback lows of 1.4327. Rate initially eased to 1.4370 in early Asian trade before bouncing back, the rate taking its lead from a recovery in the Aussie, boosted in turn by a hawkish speech from RBA’s Stevens. Reported stops above 1.4405 were triggered to take the rate on to an eventual session high of 1.4426, early Europe extending this move to 1.4428 with rate holding firm. Offers seen placed at 1.4450, a break to open a move toward Thursday’s high at 1.4475, with strong offers noted from this level and extending toward 1.4500. Support seen from 1.4405 through to 1.4390, a break to allow for a deeper move toward 1.4370/65 ahead of 1.4350 and 1.4327.
GBPUSD
GBP/USD
Range: 1.6289 – 1.6318
Support: 1.6276
Resistance: 1.6330
Sterling closed in NY at 1.6295 after being sold off to a low of 1.6260. Initial trade in Asia saw rate mark overnight lows at 1.6270 before it recovered in line with euro-dollar, the move up led by a strong recovery in the Aussie following a hawkish speech from RBA’s Stevens. Rate ground its way higher through the overnight session, trading to a high of 1.6318 with early Europe extending the move to 1.6327. Offers now placed at 1.6330, on a break opening a move toward 1.6365. Above here and rate can edge back toward 1.6395/00. Support noted at 1.6276 at 1.6260/50 with stops below. Next support is seen at 1.6235/30.
USDJPY
GBP/USD
Range: 76.95 – 77.47
Support: 76.90
Resistance 77.70

 

Dollar-Yen Opened in Asia at 77.40 following overnight highs of 77.70 around the NY close when the rate caught a bid tone. Dollar-yen drifted lower on fixing supply and option related selling in Aussie-yen before the fix, falling to 77.27. A quiet session after the fix as trading held a tight 10 pip range. Strong offers noted around 77.70 and resistance 78.16 followed by 78.81, with the base of Ichimoku cloud 79.72, stops on the downside at 76.90 as we run into support at 76.08 and 75.94

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