Forex-Metal Daily Analysis - 16/09/10

[Forex-Metal]

Japanese government Intervention and sharp drop of the yen.

Asian and European trading sessions:
Euro: The EUR/USD pair traded in the range of $1,2955-$1,3030. The released disappointing Euro-zone fundamentals could not support the euro. The annualized Euro-zone employment for the second quarter was unchanged at the 0%, and the Consumer price index-core for August turned out to be at the level of 1.0%.
British Pound: The sterling demonstrated volatile trading on Wednesday, compared to its major competitors. The pound was influenced by the published UK fundamentals. The jobless claims grew for 2.3K compared to the expectations for a decrease of 3.0K.
The GBP/USD rate set minimums at the $1.5450 mark. Its maximumsпара were at the level of $1.5560.
Japanese Yen: Aimed to weaken the national currency, the Japanese government executed an intervention. The USD/JPY rally showed the biggest daily advance since October 2008.
Due to the speculations, this intervention wasn’t a one-time initiative and was done without any support from the ECB or FRS. According to the experts’ opinion, the results of this intervention would be doubtful. The Japanese yen rate has been growing as a save-haven currency against the background of the concerns over the US economy slow-down rehabilitation rate and Euro-zone banking system instability, which continue to pressure investors today as well.
The USD/JPY rate stabilized at the level of Y85,50.
Oil: The increased US oil inventories data resulted in the dropped oil rate to $76.27 mark per barrel during the morning trading session.
Gold: The gold rate traded around the $1271.00 mark per ounce.

American trading session:
US Dollar: The greenback performance was mixed on Wednesday.
New-Zealand Dollar: According to the expectations, the Reserve Bank of New Zealand left the principal rate unchanged at the previous level of 3.0% for the second time already. The national currency reacted with a decrease.


Technical analysis for 16/09
EURUSD
The pair nearly touched Moving Average (200) and rolling back. Support is at 1.28630.
Resistance: 1.30277, 1.31181, 1.33143
Support: 1.28630, 1.25690, 1.23907
GBPUSD
The pair has tested Moving Average (500) at 1.55763 and rolling back. Support maybe found at 1.53367.
Resistance: 1.56722, 1.58543, 1.60322
Support: 1.54842, 1.52523, 1.50581
USDCHF
The pair closed below 1.00209 and declining.
Resistance: 0.00209, 1.01498, 1.02747
Support: 0.99066, 0.97914, 0.96616
USDJPY
The pair has risen to 85.747. The pair may roll back to support at 85.161.
Resistance: 86.246, 87.014, 87.728
Support: 85.161, 84.260, 83.330
AUDUSD
The pair has risen to 0.94552 and rolling back. Support is at 0.92170.
Resistance: 0.93788, 0.94898, 0.96392
Support: 0.92170, 0.90284, 0.89029