Euro surge past 1.3300 on the back of weak home sales in US

By TraderVox.com

Tradervox (Dublin) – Euro continued its march against the US dollar during the US session after rising in the European session. The single currency has taken out the 1.3300 levels and is currently trading around 1.3323, up about 0.40% for the day. The resistance may be seen at the current levels and above at 1.3360. The support may be seen at 1.3260 and below at 1.3190. US pending home sales declined below expectation and it triggered the risk on sentiment. The home sales declined by 0.5% against the expected rise of 1%.

The Sterling pound also rose against the US dollar as it broke the 1.5900 levels and is aiming higher. The high so far is 1.5955 and the pair is trading at 1.5928, up about 0.37% for the day. The resistance may be seen at 1.6000 and 1.6050. The support may be seen at 1.5920 and below at 1.5860.

The broad US dollar weakening move was evident in the USD/CHF pair as US dollar loses levels against the Swiss Frank. The pair has come from a high of 0.9124 and plunged below the 0.9100 levels. It is trading at 0.9040, down about 0.43% for the day. The support may be seen at 0.9010 and below at 0.8960. The resistance may be seen at 0.9060 and above at 0.9100.

The USD/JPY pair held on when US dollar is losing in most of the pairs. It traded in a range of 82.60 and 82.90 range and is presently being quoted  at 82.80, up about half a percent for the day. The resistance may be seen at 82.90 and above at 83.40. The support may be seen at 82.50 and at 82.20.

The Australian dollar has taken out an important resistance of 1.0500 and printed a fresh high of 1.0543. The pair is currently trading around 1.0508, up about 0.43% for the day. The resistance may be seen at 1.0560 and at 1.0600. The support may be seen at 1.0500 and below at 1.0450.

The US dollar index lost the levels as it is trading near its low at 79.22.

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