By TraderVox.com
Like Euro, the sterling pound also traded in a narrow range of 1.5928 and 1.5885. Pair traded above 1.5900 levels to print a high of 1.5928. Since then it has retracted back and currently trading near its opening price of 1.5895. The support may be found at 1.5890/5900 and resistance will be seen at 1.5930 and 1.6000. Now it will be interesting to see if pound takes out an important level of 1.6000 particularly in light of the Bank of England meeting tomorrow. Interest rate and quantitative easing will be the main focus of the meeting.
The USD/CHF pair has also traded in a small range of 0.9139 and 0.9105 for the day. The unemployment data came out today from Switzerland which showed an increase in unemployment to 3.4%. Expected increase in the unemployment was 3.5%. The pair is trading at 0.9125 up about 0.1%. The support may be seen at 0.9110 and below at 0.9080. The resistance may be seen at 0.9150 and 0.9200.
The Australian dollar continued its rise against the US dollar and is now trading comfortably above 1.0800 to form a six month high of 1.0843. It is currently trading at 1.0820, up around 0.10%. The support now may be seen at a psychological level of 1.0800 and below at 1.0780. The resistance lies at 1.0860 and 1.0900.
The USD/JPY pair managed to break a strong resistance of 77 to form a high of 77.18. It is presently trading at 77.01. The resistance lies at 77.10 and above at 77.30. The support lies at 77 and 76.80.
The dollar index is trading at 78.57. Today is a crucial day for Euro as the fate of Greek deal might be decided.
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