Posts tagged ‘rally’

February 17, 2012

AUD/USD falling after US CPI

After being capped just beneath 1.0800 during early Asian session the AUD/USD declined, with an European bounce in the middle.

Stronger than expected US CPI data didn’t have the same effect of yesterday’s risk-on rally on blooming economic data. “The culprit is EUR/AUD which has been absolutely loaded with speculative shorts since the break of 1.29. They are getting squeezed at the moment”, says Adam Button, analyst at Forexlive.com.

According to Mataf.net analysts, resistances are at 1.0800, 1.0845 and 1.0895. On the downside, supports might act at 1.0745, 1.0655 and 1.0625. At the moment of writing, the AUD/USD keeps losing value, now at 1.0725.

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February 3, 2012

EUR/USD erases intraday losses

The Euro extended its recovery against the Dollar, erasing its intraday losses during the American afternoon, after Bloomberg reported the ECB is considering ways of using its bond holdings in Greece’s next rescue program.

EUR/USD rose to 1.3151 amid thin trading conditions, having recovered from a low of 1.3065 scored early New York session also supported by the strong rally in stocks on the back of NFP. At time of writing, EUR/USD is trading around 1.3145, where it is virtually unchanged since opening.

Immediate resistance for the cross could be found at 1.3185 ahead of the 1.3200/10 zone and 1.3230, while supports are now seen at 1.3100, 1.3070 and 1.3020.