The dollar traded with a mixed bias through Asia Friday

<p>AUD/USD Range:1.4184 – 1.4269 Support:1.4150 Resistance: 1.4300 The dollar traded with a mixed bias through Asia Friday. Euro-dollar fell to a low of $1.4121 last night […]</p>

Range:1.4184 – 1.4269
Resistance: 1.4300
The dollar traded with a mixed bias through Asia Friday. Euro-dollar fell to a low of $1.4121 last night in the US but recovered in the afternoon. It kicked off the Asian session near $1.4245 but again failed to hold on to the gains, slipping through $1.4200 for a low of $1.41846 this morning, weighed by sovereign debt woes and the surprise rate hold by the BOK. The pair managed to temper part of the losses, edging back up to around $1.4200 late in the session, edging higher into early Europe as traders positioned for eurozone regional GDP releases.
Range: 80.44 – 81.09
Support: 81.85
Resistance 80.00
Opened in Asia at Y80.94 with a small rally to Y81.08,largely tracking Asian bourses and slipping to Y80.82 initially before edging higher to Y81.09. Further falls in crude oil and a slide in the Nikkei weighed heavily, sending the dollar back down through stops at Y80.60 to Y80.44 before the Nikkei found some support and the pair lifted back to Y80.64. Today sees some large option strikes at Y81.00 which is likely to have some attraction along with the unchanged Korean rate decision and a high dollar-Yuan fixing. Newswires reported a $ UST redemption on Monday of which 15-30% apparently belongs to Japan’s largest LNG importer TEPCO. Talk of stops now in place through the day’s low.
Range: 1500.95–1509.65
Support: 1488.00
Resistance 1526.60


Thursday was another crazy day for the bullion market, with Gold attempting an early rally in Asia which fizzled at $1506.60 and fell rapidly as Europe opened to lows of $1478.25. the move was led by a collapse in crude and equity prices as the dollar Index rebounded sharply and China hiked its reserve ratio requirements again. Weaker US retail sales from the US sparked a turn around in the dollar with the index reversing sharply, equities rallying, and Crude shooting higher to over $100 again. Gold quickly rallied to $1508.10 before easing back into the close at $1506. Silver followed a similar pattern falling to lows of $32.34 before leaping back to $35.55 and closing at $34.71.Asian markets this morning saw a mild sell-off to lows of $1501.20 and $34.17 before recovering to $1507.95 and $34.98.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.