The Aussie Dollar advanced significantly during the Asian session

<p>AUD/USD Range: 0.9917 – 0.9977 Support: 0.9891 Resistance: 1.0019 The Aussie Dollar advanced significantly during the Asian session. After the RBA minutes were released AUDUSD briefly fell lower […]</p>

AUDUSD

AUD/USD

Range: 0.9917 – 0.9977
Support: 0.9891
Resistance: 1.0019
The Aussie Dollar advanced significantly during the Asian session. After the RBA minutes were released AUDUSD briefly fell lower on comments that the current levels of interest rates were “mildly restrictive”. However quickly reversed and cut its gap towards parity, rising more than 50 pips to reach a session high of 0.9977. However the Aussie has been unable to extend gains beyond that level in Asain, and remains capped by today’s high.

 

EURUSD

EUR/USD

Range: 1.3113 – 1.3202
Support: 1.3087
Resistance: 1.3236
The Euro was all over the place during the Asian session. Comments from PIMCO urging Greece, Ireland and Portugal to temporarily step outside of the Euro zone and restructure their debt pressed the Euro down towards the 200 day MA. This was however countered mid morning when China’s Vice Premier Wang (speaking at EU summit in Beijing) said China would support EU measures to stabilise its debt problems. The Euro currently trades just below 1.3200, where is struggling to get over this hurdle.

 

USDJPY

USD/JPY

Range: 83.56 – 83.80
Support: 83.23
Resistance: 84.50
The BoJ ended its 2 day policy meeting today, and although there has been signs of further deterioration within the economy, there were enough positive signs to at least justify keeping the central bank’s policy and outlook unchanged as was widely expected. USDJPY remains in a tight consolidation just over the daily Ichimoku cloud. Only a break and hold above 84.50 will open up further gains. There is notable buying interest around the 83.55 area.

 

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