Euro under pressure, trading below 1.3100

By TraderVox.com

Tradervox (Dublin) – The recovery of Euro during the US session was stalled at 1.3171 yesterday. Today the pair failed to capitalize on the recovery as it failed to break the 1.3200 levels. It traded mostly in red for most part of the day and formed a low of 1.3084.

It is currently trading near the low at 1.30991, down about 0.40% for the day. The support may be seen at 1.3080 and below at 1.3020 levels. The resistance may be seen at 1.3100 and above 1.3160. The economic sentiment from Germany and EMU came above the expectation at 22.3 and 11 respectively.

The Sterling Pound is trading below the 1.5600 levels at 1.5640, near its opening price. The support may be seen at 1.5600 and below at 1.5560. The resistance may be seen at 1.5660 and above at 1.5710 levels. The trade balance data came better than expectation at a deficit of 3.678 billion pounds. The consensus was a deficit of 4.250 billion pounds.

The USD/CHF has come above the 0.9200 levels and is trading around 0.9214, up about half a percent for the day. The resistance may be seen at 0.9250 and above at 0.9300. The support may be seen at 0.9150 and below at 0.9125 levels.

USD/JPY is printing new highs after taking a pause yesterday. The pair picked up a momentum during the late European session and is currently trading around 82.75, up about 0.55% for the day. The high so far is 82.81. The resistance may be seen at 83 and 83.30 levels while the support may be seen at 82.55 and below at 82.30 levels. Earlier the interest rate was kept unchanged at 0.1% by Bank of Japan.

After visiting the areas below the 1.0500 levels yesterday, the pair has come above it. But it is currently trading tantalizing near the 1.0500 levels at 1.0504, almost flat for the day. The support may be seen at 1.0500 and below at 1.0450. The resistance may be seen at 1.0560 and 1.0060 levels.

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