By TraderVox.com
The Euro recovered from the recent losses in the late European and early US session and is currently trading around 1.3220, up about 0.20% for the day. The support may be seen at 1.3210 and below at 1.3160. The resistance may be seen at 1.3260 and 1.3300. The pair has printed a high of 1.3240. ISM came better than expected at 57.3 above the expected value of 56.1.
The British pound also followed the single currency and traded in green for the day. It is presently being quoted at 1.5870, up about 0.20% for the day. The better than expected ISM numbers cheered the markets and pound has printed a high of 1.5875 and is trading near the high. The support may be seen at 1.5820 and 1.5780/90 levels. The resistance may be seen at 1.5880 and 1.5930 levels.
The USD/CHF pair has come off the recent highs and is approaching the 0.9100 levels in US dollar weakening trend. It is currently trading around 0.9115, down about 0.15% for the day. The support may be seen at 0.9110 and below at 0.9065. The resistance may be seen at 0.9180 and above at 0.9250 levels.
Contrary to the US dolalr weakening move, the USD/JPY pair is showing the US dollar strengthening trend as US dollar has recovered from the lows off the day during the late European and US session. The pair is currently trading at 81.40, still down about 0.40%. The support may be seen at 81.20 and 80.70. The resistance may be seen at 81.50 and 81.90 levels.
The Australian dollar is also showing a contrarian move as it is losing against the US dollar. It is trading around 1.0660, down about 0.75% for the day. The support now may be seen at 1.0660 and below at 1.0625. The resistance may be seen at 1.0700 and 1.0740 levels.
The US dolalr index is trading around 79.30 approaching the daily lows.
Article provided TraderVox.com
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