By TraderVox.com
Australian dollar attracted most of the attention during the Asian session today with a crucial interest rate decision by RBA today. RBA contrary to the expectation kept the interest rates unchanged at 4.25%. Expectation was a decrease in the interest rates by 25 basis points.
Australian dollar reacted positively by gaining 100 pips within an hour after the announcement. It printed a high of 1.0821, last seen in the month of August. It is currently trading at 1.0780, up half a percent. The resistance now lies at 1.0810 and 1.0900. The support lies at 1.0780 and below at 1.0750.
Pain for Euro continues today with no concrete development on the Greek front. Although a possibility of Greece accepting the austerity measures have resurfaced and Euro reacted to this by holding the 1.3100 level. Euro broke the 1.3100 level to form a low of 1.3088. But it managed to come above the 1.3100 mark. Currently it is trading at 1.3125, flat for the day. The support may be seen at 1.3100 and below at 1.3030 levels. The resistance may be seen at 1.3150 and at 1.3200. Fed chairman Barnake will speak during the US session. Markets will watch for any cues on quantitative easing.
The sterling pound is trading at 1.5815, near the opening price. Sterling pound has no major impacting event so far. The interest rate will be decided by BoE later this week. No change in the interest is expected. The support lies at 1.5800 and resistance lies at 1.5840.
The USD/CHF pair is trading around 0.9200, up about 0.15%. Support lies at 0.9200 and 0.9160. The resistance may be seen at 0.9230 and 0.9250.
The general US dollar strengthening was also seen in USD/JPY pair. It is now inching towards 77 level resting the intervention possibility as of now. It is currently trading at 76.76, near the high of 76.80. The support may be found at 76.65/70 and resistance may be seen at 76.80- 77 area.
The dollar index is currently trading at 79.21, almost flat for the day. There are major events happening this week and developments on Greek deal needs to be followed closely.
Article provided by TraderVox.com
