By TraderVox.com
Euro is hovering around the 1.3200 levels for most part of the day. It printed a fresh low of 1.3158 during the early European session. It is currently quoting at around 1.3184, marginally down for the day. The support may be seen at 1.3160 and below at 1.3100 levels.
The resistance may be seen at 1.3210 and above at 1.3280. The sentiment is clearly bearish with doubts over the Greek default and China's growth rate is reported as lowest in 8 years.Services PMI data from EMU came below expectation. It fell to 48.8 against the expected value of 49.4. The corresponding figure for Germany came better than expected at 52.8 against the expectation of 52.6.
The pound is trading at 1.5820, down about a tenth of a percentage. The risk off sentiment has been evident in this pair as well but the reluctance of further pumping of money by BoE as told by Mervyn King is holding the pound against the US dollar. The support may be seen at 1.5800 and below at 1.5750 levels. The resistance may be seen at 1.5850 and above at 1.5890 levels. The services PMI from UK came at 53.8, below expectation of 54.8.
The USD/CHF is trading in a narrow range of 38 pips comfortably above 0.9100 levels though. The pair is currently trading at 0.9145, almost flat for the day. The retail sales in Switzerland came at 4.4% against the expectation of 2.1%. The pair in response printed a high of 0.9160 during the European session. The support may be seen at 0.9110 and below at 0.9065. The resistance may be seen at 0.9180 and above at 0.9250 levels.
US dollar is losing the levels against the Japanese Yen and is currently trading at 81.25, down about 0.60 percent. The pair has come off the recent high of 81.85. The support may be seen at 81.20 and 80.70. The resistance may be seen at 81.50 and 81.90 levels.
The US dollar strengthening trend is also evident in the AUD/USD pair as the pair has lost the 1.0700 levels and is currently trading around 1.0676, down about 0.60% for the day. Bad set of numbers from China, Europe is weighing on the pair. The support now may be seen at 1.0660 and below at 1.0625. The resistance may be seen at 1.0700 and 1.0740 levels. The US dollar index is comfortable above the 79 levels and is currently trading in green at around 79.50.
Article provided TraderVox.com
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