Closed in NY at $1.4355, having recovered off traded lows of $1.4254 in NY

<p>EUR/USD Range:1.4270 – 1.4369 Support:1.4205 Resistance: 1.4442 Closed in NY at $1.4355, having recovered off traded lows of $1.4254 in NY, seen as market reacted to […]</p>

EURUSD
EUR/USD
Range:1.4270 – 1.4369
Support:1.4205
Resistance: 1.4442
Closed in NY at $1.4355, having recovered off traded lows of $1.4254 in NY, seen as market reacted to S&P’s downgrading of Greece. Recovery continued into early Asia, the rate edging to a high of $1.4378. Rate reversed off highs as market reacted to comments from Fed hawk, and non-voter, Lacker suggesting that the Fed could hike rates before year end, as well the CME’s margin hike on oil futures. Rate squeezed to initial lows of $1.4326, overcoming any risk positive influence from the release of strong China and Australian trade data, with rate coming under another wave of pressure into early Europe which extended pullback lows of $1.4272, with rate retaining a heavy tone.
GBPUSD
GBP/USD
Range: 1.6362 – 1.6416
Support: 1.6271
Resistance 1.6464
Closed in NY at $1.6395, after rate recovered off session lows of $1.6270 aided by talk that overnight BRC data would come in stronger than forecast. Rate edged higher into early Asia, nudging above $1.64 before spiking to highs of $1.6422 as data release confirmed rumours, while RICS housing data also showed an improvement. However, with market well positioned for the release the move quickly met profit take selling which eased rate back to $1.6385. Another wave of sales into late Asia, early Europe extended the pullback to $1.6362 (Asia low $1.6373, $1.6364 38.2%$1.6270/1.6422), with rate currently trading around $1.6370.
USDJPY
USD/JPY
Range: 1.4116 – 1.4167
Support: 1.4100
Resistance 1.4200

 

Little in the way of direction as the pair was led around by varying cross flows. Dollar opened in Asia at Y80.36 and eased to Y80.15 before picking up later in the session to Y80.53. Bids are noted down to the Y80.00 level with stops set on a break, and again through Y79.50. Offers remain towards Y81.00 with stops seen through there on a break, and again through Y81.20.

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