US dollar gains with better health of US economy

By TraderVox.com

Tradervox (Dublin) – Euro got sold off last night after the FOMC minutes. As expected the interest rate was kept unchanged as expected. But what shook the market was the observations made by Fed. Fed saw moderate improvements in US economy and labor markets. The US dollar gained across the board and Euro was hammered badly losing the 1.3100 levels and formeing the low of 1.3050.

Today, the single currency printed a fresh low of 1.3029 during the late Asian session. But it has trimmed today's losses and is currently trading around 1.3066, still down about 0.10% for the day. CPI from EMU came largely as expected while industrial production came below expectation. The support may be seen at 1.3040 and below at 1.3000. The resistance may be seen at 1.3060 and above 1.3100.

The Sterling pound is trading around 1.5700 levels near its open price of the day. The support may be seen at 1.5700 and below at 1.5650. The resistance may be seen at 1.5760 and above at 1.5800.ILO unemployment rate came as expected at 8.4%.Claimant count change has come below expectation at 7.2k against the expected valie of 6k.

The USD/CHF is trading around 0.9257, up about 0.27% for the day. Th pair has been gaining the levels throughout the day and printed a high of 0.9274 for the day. The resistance may be seen at 0.9300 and above at 0.9350. The support may be seen at 0.9250 and below at 0.9200 levels.

The USD/JPY is printing the fresh highs and is currently trading around 83.55, up about 0.82% for the day. The resistance may be seen at 83.80 and 84.30. The support may be seen at 83.30 and below at 83.

Australian dollar has lost the 1.0500 handle and is currently trading around 1.0470, down about 0.60% for the day. The support may be seen at 1.0450 while the resistance may be seen at 1.0500 levels.

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