The Euro s recovery from 1 3445 low extended higher throughout the Asia session

  EUR/USD Range: 1.3608 – 1.3699 Support: 1.3610 Resistance: 1.3730 The Euro’s recovery from 1.3445 low extended higher throughout the Asia session. After a slight pull back to […]


Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

 

EURUSD

EUR/USD

Range: 1.3608 – 1.3699
Support: 1.3610
Resistance: 1.3730
The Euro’s recovery from 1.3445 low extended higher throughout the Asia session. After a slight pull back to the 1.3610 area, the pair has pushed higher breaking through the 1.3660 resistance and is now trading towards the sessions highs (1.3695). On the upside, the pair might find resistance at 1.3700 and above here 1.3750 (Nov 15th high). On the downside support lies at 1.3610 and below their 1.3575. It seems that Ireland is coming ever closer to receiving financial aid from the EU and IMF.

 

 

GBPUSD

GBP/USD

Range: 1.6197 – 1.6286
Support: 1.6000
Resistance: 1.6090
The British pound rallied through Thursday’s session; and it would be easy to attribute this strength to the improvement in scheduled data. Retail sales grew more than expected at 0.3%, public deficit figures are slowly trending lower and the CBI factory orders jumped from an August 2008 low. However the real catalyst is coming from a shared solution to Ireland’s problems.

 

 

USDCAD

USD/CAD

Range: 1.0180 – 1.0210

Support: 1.0180
Resistance: 1.0230
With risk appetite trends improving, the Canadian Dollar would take up its regular line as a commodity currency and appreciate as well. However this correlation is growing increasing less apparent, as the OECD calling the nation to cut deficits and economists lamenting the BoC’s decision to raise rates earlier this year. A break above 1.0230 will be a major sign of a reversal, whereas a break below 1.0150 may signal a return to the parity which we saw only a few weeks ago.
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