The euro closed in New York at 1.4110, off recovery highs of 1.4133

<p>EUR/USD Range:1.4020 – 1.4107 Support:1.4020 Resistance: 1.4110 The euro closed in New York at 1.4110, off recovery highs of 1.4133. The rate opened into Asia around […]</p>

Range:1.4020 – 1.4107
Resistance: 1.4110
The euro closed in New York at 1.4110, off recovery highs of 1.4133. The rate opened into Asia around 1.4100 and edged back to mark session highs at 1.4107. Risk was knocked on a variety of talks, suggestion that the Greek PM could resign today and Spain may call for early elections. The rate traded to an initial low of 1.4034, recovered to 1.4065/1.4070, before coming under renewed pressure which took the rate to lows of 1.4024 into Europe. The rate retains a heavy tone into early European dealing, with support now seen at 1.4025/1.4020 ahead of 1.4000 and then 1.3986/1.3968. Resistance is seen at 1.4055/1.4065.
Range: 1.6133 – 1.6180
Support: 1.6130
Resistance 1.6200
Sterling closed in the New York session at 1.6180, posting session highs into early Asia dealing before tracking euro-dollar’s stronger corrective pullback. The rate was pressed to lows of 1.6144, but with euro-sterling breaking back under 0.8700, down to 0.8677, it provided cable with buoyancy, allowing for a recovery back to 1.6180 ahead of the European open before coming under fresh selling pressure into Europe. The rate dropped down to retest the earlier lows before snapping back to 1.6160. Sterling was seen trading with an underlying firm tone with focus set on today’s Q1 GDP. Support is seen at 1.6130 and a break here exposes 1.6100, below which there is a stronger level at 1.6055. Resistance is at 1.6170, with stronger interest remaining in place between 1.6200 and 1.6210.
Range: 81.80 – 82.17
Support: 81.40
Resistance 82.23


Another tight range for the dollar-yen in Asia, with the pair failing to capitalise on the euro fall on the back of hedge fund sales and growing EU concerns over Greece. The US dollar opened 81.95 with an early rally through 82.00 on expectations of poor trade data to a high. The release showed a better-than-expected trade balance with the pair dipping back towards opening levels before fixing demand from importers took the rate to 82.18. Cross sales and dollar sales from a major Japanese bank pared gains to 81.79 as Europe opened. Support lies in wait at 81.41 and then at 81.03, with resistance levels at 82.23, 82.55 and 82.73.

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