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The dollar fell half a cent versus the Euro
By: iForex - 21-12-2007
0votesThe dollar fell half a cent versus the Euro on Friday as investors took profits on the U.S. currency's rally to two-month highs, and thin end-of-year trading conditions exacerbated market volatility. Worries about the health of the U.S. financial sector were reignited by a Wall Street Journal report that U.S. investment bank Merrill Lynch may get a capital infusion of up to $5 billion from Singapore state investor Temasek Holdings.
European Industrial Production is out today at 10:00 AM GMT, followed by Canadian GDP (01:30 PM GMT), and US PCE and Consumer Spending (01:30 PM GMT).
Euro | Japanese Yen | British Pound | Swiss Franc
Euro
EUR/USD climbed up to $1.4410 today in the European session, but topside resistance sent the pair back down to $1.4380, with technical indicators favoring a tight range-trading pattern around $1.4370. Downside support is seen in the $1.4310-20 area, and resistance at $1.4420 and $1.4435.
Support: 1.4320, 1.4250, 1.4120
Resistance: 1.4440, 1.4480, 1.4520
Euro | Japanese Yen | British Pound | Swiss Franc
Japanese Yen
USD/JPY traded relatively flat in Asia. The pair was stuck in a tight ¥112.96 - ¥113.27 range, which was little changed from the start of the week. Resistance is seen at ¥113.55 and ¥113.75, and support at ¥113.00, ¥112.70-75, ¥112.50 and ¥112.00.
Support: 113.00, 112.50, 112.00
Resistance: 113.40, 113.80, 114.2
Euro | Japanese Yen | British Pound | Swiss Franc
British Pound
The GBP/USD opened in Asia around 1.9835 after trading down to 1.9810 as the sell-off triggered by the release of the BOE interest rate decision continued into its third day. The pair managed to move above intraday resistance around $1.9845 and traded up to $1.9888 at one stage, mainly due to profit taking, but continued to trade in a $1.9825/88 range during the Asian session.
Support: 1.9830, 1.9750, 1.9700
Resistance: 1.9950, 2.0050, 2.0100
Euro | Japanese Yen | British Pound | Swiss Franc
Swiss Franc
Support: 1.1500, 1.1450, 1.1400
Resistance: 1.1580, 1.1620, 1.1680
Next Analysis: World-Signals expect stable dollar in the coming weeksContent Provided by:
iForex
iFOREX is an international group of Forex companies founded in 1996 by a group of bankers and Forex dealers.
In 2004, with an existing wide client base numbering in the thousands, our multilingual internet-based trading platform was launched. Since then, iFOREX has expanded its client bas
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