Forex Broker: Risk Currency Broke Through Strong Technical Resistance


Active Trader
Jun 28, 2010
Forex Broker—-Greek bond auction went on well while being absorbed by forex market, easing investors’ fears against European debt crisis. The effect of Portugal downgrading by another rating institutes also got eliminated. At the same time, the US 2nd quarter business got a strong start, promoting the risk appetite on forex market. USD index fell below the trend line support on Tuesday (June 13th), and the risk currencies broke through strong technical resistance.
The dollar index fell to 83.39 at lowest on Tuesday. The next support is expected to be in the vicinity of 83.20.
For the euro, the pound, the Australian and New Zealand dollar, they shared an excessive rally, because optimistic views on economy attract forex investors to buy shares and high-risk currencies.
Among the two, the euro rose to 2-month high against the dollar, at 1.2737. NZD/ USD rose to 0.7191, almost the highest of the two months. AUD/ USD rose to 0.8827.
8:24 GMT, the euro / dollar reported 1.2711/14; AUD / USD reported 0.8842/45; NZD / USD reported 0.7191/99, GBP / USD reported 1.5234/38.—-Forex Broker: IKONFX

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By Amanda.