Delay in Greek deal continues to punish Euro

By TraderVox.com

The Greek deal delay continues to punish Euro today as well with the single currency going below 1.3000 levels. The pair continued the loss since the early Asian session and continued in European session to form a low of 1.2982. It is hovering around 1.3000 levels down about still down about half a percent for the day. The support may be seen at 1.2980 and below at 1.2950. The resistance may be seen at 1.3050 and above at 1.3090/3100 levels. The jinx of Greek deal is far from untangled. The next deadline for the deal comes next week.

Compared to Euro, the sterling pound is stronger but still trading in red against the US dollar. It is currently trading around 1.5675, down about 0.10% for the day. The support may be seen at 1.5660 and below at 1.5600. The resistance may be seen at 1.5700 and 1.5730. The pair is trading in a consolidation phase. The nationwide consumer index came better than expectation. It rose to 47 compared to expected value of 40. It felt to push the pound higher.

Encouraging employment data came from down under. The unemployment rate fell to 5.1% against the expected unemployment of 5.3%. The 46.3k employment added in January against the expected value of 10.9k. After the data, the Australian dollar rose to a high of 1.0737. But the cheer was short lived as the delay in Greek deal propelled the greenback against the Australian dollar. It is currently trading near 1.0667, down about quarter a percent. The support may be seen at 1.0650 and the resistance may be seen at 1.0700.

The weakening of Japanese Yen continued today as well and took out yesterday’s high of 78.65. The pair is approaching the 79 levels and high for the day so far is 78.82. The support may be seen at 78.50 and the resistance may be seen at 79 and 79.50.

The USD/CHF pair is approaching the 0.9300 levels and formed a high of 0.9296. It is currently trading near 0.9280, up about half a percent. The support may be seen at 0.9250 and below at 0.9200. The resistance may be seen at 0.9300.

The US dollar index has taken out 80 levels is currently trading around 80.10. 

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