US dollar strengthens against all the majors

By TraderVox.com

Tradervox (Dublin) – Euro continued its slide even during the US session and printed a fresh low of 1.3250. There is a downside pressure on the single currency as the GDP data from US came as expected which reveals GDP at the expected value of 3%. Euro is trading around 1.3260, down about 0.60% for the day.

The support may be seen at 1.3250 and below at 1.3200 levels. The resistance may be seen at 1.3280 and above at 1.3325. Gross domestic purchases index was also came at 0.9% and real personal consumption expenditures came at 1.3%. Both data came in line with the expectation.

The Sterling Pound has recovered from the lows of the day and now has come above the 1.5900 levels. The cable is now trading around 1.5911, up about 0.15% for the day.The support may be seen at 1.5880 and below at 1.5850. The resistance may be seen at 1.5940 and above at 1.5980.

The USD/CHF as expected is showing the US dollar strengthening move as it approaches the 0.9100 levels. The high so far is 0.9091printed during the late European session. The pair is currently trading around 0.9083, up about 0.37% for the day. The resistance may be seen at 0.9100 and above at 0.9140. The support may be seen at 0.9050 and below at 0.9020.

The USD/JPY is regestering a recovery after forming a low of 81.89 during the late European session. Presently it is beig quoted at 82.33, down about 0.67% for the day. The support may be seen at 82 and below at 81.50. The resistance may be seen at 82.40 and above at 82.90.

There seems to be no respite for the Australian dollar as it is being punished during the US session as well. It has printed a fresh low of 1.0302 during the US session and break of the 1.0300 level is very much possible. Australian dollar is trading around 1.0317, down about two third of a percentage for the day. The support may be seen at 1.0280 while the resistance may be seen at 1.0320 and above at 1.0370.

US dollar index is trading around 79.42.

Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com are those of the individual authors and do not necessarily represent the opinion of Tradervox.com or its management.

Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
Follow us on twitter: www.twitter.com/tradervox