Closing Friday’s session at 1.4155, trading off of the lows of 1.4033

<p>EUR/USD Range:1.4040 – 1.4146 Support:1.4035 Resistance: 1.4205 Closing Friday’s session at 1.4155, trading off of the lows of 1.4033 after Friday’s early attempt to pressure rate […]</p>

EURUSD
EUR/USD
Range:1.4040 – 1.4146
Support:1.4035
Resistance: 1.4205
Closing Friday’s session at 1.4155, trading off of the lows of 1.4033 after Friday’s early attempt to pressure rate toward option interest at 1.4360 failed, the euro coming under heavy sell pressure on a mix of negative news concerning Greece. The rate opened in Asia at 1.4128, with the rate edging to 1.4146 before dropping back, eventual break and clear of 1.4100 taking rate to session lows of 1.4064. Recovery efforts remained very shallow, with the rate edging to 1.4075 before fresh sales eased rate on to 1.4042 into the European session. Demand now emerging ahead of 1.4040, a break here to open a deeper move towards 1.4025/1.4020 ahead of 1.4005/1.4000, with barrier interest noted at the figure and offers lined up at 1.4075/1.4080. 60.
GBPUSD
GBP/USD
Range: 1.6165 – 1.6229
Support: 1.6285
Resistance 1.6105
Cable closed in NY on Friday at 1.6250, following a bounce back off the 1.6167 session lows to 1.6304. With cable buoyed as euro-sterling tracked the general sell off in the euro. Cable was marked lower into Asia, as euro-dollar remained under pressure, the rate opening at 1.6225, marked a session high at 1.6231 before squeezing down to 1.6196. Euro-sterling remained the key driver for cable, the rate breaking under 0.8700 to extend its recent corrective pullback to 0.8682, the move in turn providing buoyancy for cable. While cable extended lows to 1.6176, but the pound’s resilience again seen as cable recovers to 1.6195. Support now at 1.6167 and a break could open a move towards 1.6135/1.6130 ahead of stronger area between 1.6105/1.6090. Resistance lies at 1.6100/10 ahead of 1.6120/1.6125.
Gold
Range: 1,506.70 – 1,516.50
Support: 1,500.00
Resistance 1,519.00

 

Asian markets saw an initial spike to 1,519.00 before the commodity markets pared back which was led by a softer euro-dollar, equities and oil prices, with a low of 1,507.80, settling around 1,511.00 as Europe opened. Support is now seen towards 1,500 and Friday’s low of 1,486.90 with resistance ahead seen at 1,519 and 1,526.70. Silver followed a similar path with an early jump up to 35.43 before heading lower to 34.61. Support here seen at Friday’s low of 34.23 and 33.00 with resistance at 35.59 and 35.46.

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