By TraderVox.com
The euphoria over the Greek deal was short lived today with limited reaction from the market. The Euro has given up all the gains of the day due to cautious approach of the traders. The cautious approach is due to many aspects need clarification. It is still trading above the 1.3200 levels at 1.3218, marginally in the green for the day. The support may be seen at 1.3200 and below at 1.3150. The resistance may be seen at 1.3250 and 1.3325.
The sterling pound is also marginally trading in green and given up the gains of the day. It has retracted from the high of 1.5826 and is currently trading below 1.5800 levels at 1.5780 just 5 pips above its opening price of the day. The support may be seen at 1.5750 and below at 1.5700. The resistance may be seen at 1.5800 and 1.5825 levels.
After trading mostly in red during the day, USD/CHF is going towards its opening price and towards the high for the day of 0.9159. The support may be seen at 0.9000 and below at 0.9070. The resistance may be seen at 0.9150 and above at 0.9200. The pair is currently trading at 0.9150, almost flat for the day.
The USD/JPY pair has turned into the red and is currently trading at 77.49, 5 pips down the opening price of 77.54. The support may be seen at 77.30 which is a strong support and the resistance may be seen at 78.
The Australian dollar gained levels during the European session to the high of 1.0777. But it failed to hold on to these gains and is currently trading below 1.0750 at 1.0736, still up almost half a percent. The resistance may be seen at 1.0775 and 1.0800. The support may be seen at 1.0700 and below at 1.0650/60. The 1 hour chart is making the lower lows since the late European session. The bias remains bearish.
The US dollar index is gaining the levels and is approaching the 79 levels. It is currently trading just shy of 79 at 78.98. Tomorrow is an important day for the single currency as European leaders will meet to decide the Greek deal.
Article provided TraderVox.com
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