By
GCI Financial |
Technical Analysis | Aug 19, 2011 06:08AM GMT |
In the US, for the week ended 13 August 2011, initial jobless claims rose to 408,000, compared to the previous week’s revised figure of 399,000. Additionally, for the week ended 6 August 2011, continuing claims rose to 3.702 million, compared to the preceding week’s level of 3.695 million.
In the Asian session at 3:00GMT, the pair is trading at 1.0373, 1.12% lower from yesterday’s close at 23:00 GMT.
LME Copper prices declined 0.8% or $67.0/MT to $8,802.8/ MT. Aluminium prices rose 1.0% or $24.0/MT to $2,371.0/ MT.
The pair is expected to find first short term resistance at 1.0497, with the next resistance levels at 1.0620 and 1.0836, subsequently. The first support for the pair is seen at 1.0281, followed by next supports at 1.0188 and 0.9972 respectively.
Please see the attached chart below...
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
