Dale once again sounds hawkish on BoE 8217 s quarterly bulletin

Gold Range: 1.521.00 – 1522.00 Support: 1512.00 Resistance: 1532.80 Bullion markets saw a bounce yesterday, largely helped by a weaker US dollar index. Gold rose […]


Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst
Gold
Range: 1.521.00 – 1522.00
Support: 1512.00
Resistance: 1532.80
Bullion markets saw a bounce yesterday, largely helped by a weaker US dollar index. Gold rose from lows of 1,512.25 to 1,526.25, with Asian markets extending the rally to 1,527.45 in early trade this morning, before settling around 1,524.50. Support is now at 1,512.00, with resistance at 1,532.80. Silver recovered from 34.42 to 35.60 and has risen to 35.70 in Asia, before balancing around 35.35. Support is now seen towards 34.57, with resistance at 36.31. The metals continue to be heavily influenced by crude prices rather than safe-haven demand.
EURUSD
EUR/USD
Range: 1.4355 – 1.4451
Support: 1.4360
Resistance: 1.4425

Euro-Dollar closed in New York at 1.4440, off late rally highs of 1.4498. The rate initially edged to an overnight session high of 1.4451 in early Asian trade before stalling. Euro move lower, gaining momentum as a Financial Times report suggested the Greek bailout plans require an additional E20 billion. The rate met support in at 1.4405, which cushioned the rate, marking lows at 1.4404 before settling into a 1.4404/20 range before nudging higher between 1.4410/30 into the European open. Bids remain at 1.4375 ahead of 1.4370 through to 1.4350, with stops noted below. Resistance at 1.4435 ahead of 1.4450, looking at 1.4480 as stronger resistance ahead of 1.4500.

GBPUSD
GBP/USD
Range: 1.6333 – 1.6382
Support: 1.6338
Resistance 1.6470

 

Cable closed in New York at 1.6370, with early demand into Asia seeing the rate push up to a high of 1.6383. The rate then hit a low of 1.6353, only to cushion ahead of 1.6350. This was provided by euro-sterling as it eased off from 0.8823 to 0.8803, holding heavy into early Europe. Cable seems to be trading within a falling channel, with parameters today seen at 1.6186/1.6430. Cable offers seen at 1.6380/85, ahead of 1.6398/08 before stronger interest at 1.6420/30. Support remains into 1.6355/45, a break to open a deeper move toward 1.6325/20.

Related tags:

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar