By TraderVox.com
The Euro surged during the Asian session on the hopes of Greek deal. The pair went above 1.3300 levels to print a high of 1.3311. But in the early hours of European session, it has lost the steam and come below 1.3300 levels on news that Greek unions have announced a strike of 2 days from Friday in protest of austerity measures in the swap deal proposed by troika. It is currently trading at 1.3270, marginally up from yesterday’s open. The support may be seen at 1.3270 and below at 1.3230. The resistance may be seen at 1.3300 and 1.3330.
It is an important day for sterling pound because Bank of England is meeting this afternoon for interest rate decision and asset purchase program. Trade data from UK came below expectation at -3.748 billion pounds against the expected figure of -4.950 billion pounds. Industrial production came better than expected at 0.5% against the expected production of 0.2%. So it is a jam packed day for the pound. It is currently trading at 1.5835, up about tenth of a percentage for the day. The support may be seen at 1.5800 and below at 1.5750. The resistance may be seen at 1.5840 and above at 1.5870.
SECO consumer climate data came out of Switzerland better than expected at -19. The expected data was -25. Positive data along with Greek deal hopes propelled the Swiss frank against the US dollar. The pair is trading at 0.9115, almost flat for the day. It went below the 0.9000 level to form a low of the year at 0.9090. The support now lies at 0.9115 and below at 0.9070. The resistance may be seen at 0.9150 and 0.9200.
The USD/JPY touched a resistance of 77.24 but failed to break it. It is currently trading at 77.15, up about 0.15%. The resistance of 77.24 still remains strong while support may be found at 77.
The Australian dollar gave up an important 1.0800 level during the Asian session when Chinese inflation soared to 4.5%. It formed a low of 1.0738. But the pair managed to gain the levels and is currently trading above 1.0800 levels at 1.0810. Support lies at 1.0800 and below at 1.0770. The resistance may be seen at 1.0860 and 1.0900 levels.
The dollar index is trading at 78.60.
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