By TraderVox.com
The stalemate on the Greek deal continues as the members of the European countries fail to agree on the conditions of the deal. Finance ministers will be meeting next week and the details of the deal must be agreed upon if Greek default is to be averted. The next coupons of Greek bonds are due in March. The delay on the deal continues to punish Euro. The single currency has managed to rise above 1.3100 and is trading at 1.3111, still in red. The support is at 1.3070 and below at 1.3030. The resistance is at 1.3120 and a stronger resistance at 1.3200.
Unlike Euro, the sterling pound managed to turn into green. It is currently trading at 1.5816, marginally up from Friday’s close. The immediate support lies at 1.5800 and below at 1.5750. The resistance will be seen at 1.5820 and 1.5850. The anticipated asset purchase this week by Bank of England will put pound under close scrutiny this week.
The good unemployment report continued to surge US dollar against Swiss frank even in US session today. Although the pair lost the 0.9200 level and is currently trading at 0.9196, virtually flat. The support may be found at 0.9180 and below at 0.9160. The resistance will be seen at 0.9250 and 0.9300. The Swiss intervention to keep EUR/CHF at 1.2000 level is something to keep an eye at.
The USD/JPY pair traded in a narrow range of 76.55 to 76.68 in the US session. Presently it is trading at 76.59, flat for the day. The support lies at 76.30 and resistance at 76.80 levels.
The Australian dollar has managed to regain the important 1.0700 level after losing it during the European session. The pair is currently trading at 1.0734, marginally down for the day. The resistance lies at 1.0760 and above at 1.0800. The support lies at 1.0700 and 1.0680. Tomorrow is an important day for the Australian dollar when interest rate will be determined.
The dollar index has lost the steam in the last hour and is currently trading, 79.21, near the low. The low for the day till now stands at 79.13.
Article provided by TraderVox.com
