The dollar recovery from the session lows of the 83.20 area has accelerated

<p>  USD/JPY Range: 83.23 – 83.85 Support: 83.10 Resistance: 84.00 The dollar recovery from the session lows of the 83.20 area has accelerated beyond 83.40 (session high), and […]</p>

 

USDJPY
USD/JPY
Range: 83.23 – 83.85
Support: 83.10
Resistance: 84.00
The dollar recovery from the session lows of the 83.20 area has accelerated beyond 83.40 (session high), and reached a fresh seven-week high at 83.85 after news about fire being exchanged between North and South Korea. The pair is set to test resistance at 83.80, with the next resistance seen at 84.00 (October 5th high). On the downside, support levels lie at 83.00/10 and below here, at 82.65 (50-day MA). Markets have been shocked by news about North and South Korea armies having exchanged fire near the boarder, which has increased risk aversion amid concerns about conflict in the area.
EURUSD

EUR/USD

Range: 1.3526 – 1.3633
Support: 1.3510
Resistance: 1.3680
The euro’s attempt at a rally after the Ireland bailout news fizzled out shortly after the start of European trading yesterday as attention switched to the other periphery economies and their credit situations. The matter was not helped by comments from an Irish opposition spokesman suggesting there were differences between the IMF and EU, Moody’s talking of a multi-notch downgrade and a growing possibility that the Irish coalition government may fracture. Euro retreated below 1.3600 and was a catalyst for a greenback rally across the board.
USDCAD

USD/CAD

Range: 1.0178 – 1.0212
Support: 1.0153
Resistance: 1.0217
In an already busy economic calendar on Tuesday, the Canadian dollar stands out as one of the primary risk events. Loonie traders will be interested in September retail sales and October CPI data. The implications for interest rate and growth expectations are clear. What stands this data out is whether it indicates a shift in perception, whereby the BoC will warn of financial and economic troubles ahead.

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