Forex-Metal Daily Analysis -13/04/2011

Forex-Metal

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Jul 12, 2010
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The risk level of NPP Fukushima was increased to its maximal point

Asian and European trading sessions:
Japanese Yen: New earth-quakes continue to descend on Japan, and are the result of the increased demand for the save-heaven assets. The national currency rate continued to grow.
The risk level of NPP Fukushima was increased to its maximal point today. Asian stock markets dropped. The USD/JPY grew to the Y84.40 mark.
Australian Dollar: The Australian dollar rate decreased, as the demand for the risky assets dropped.
Swiss Frank: Swiss frank rate showed considerable growth on Tuesday as well, as a save-heaven currency.
Euro: The released today German ZEW survey (economic sentiment) showed an unexpected drop to 7.6 against the forecasted level of 11.3. Nevertheless, the euro demonstrated a positive dynamics on Tuesday in anticipation of the EC and IMF meeting. The EUR/USD pair reached the maximum of $1,4500, as the EC and IMF members started to prepare the financial support package for Portugal in the amount of 80 billion euro.
British Pound: The GB fundamental releases today demonstrated decreased inflation, which resulted in the drop of the pound against the US dollar and the euro as well. The GBP/USD pair decreased from the maximums of $1.6320 to minimums of $1.6220. Therefore, expectations for the possible increase of the UK principal rate, dropped.
Oil: Oil traded around the level of $109.60 per barrel. Oil price showed some negative movement today.
Gold: Gold also demonstrated some decrease, and the rate was at the $1,466.60 level per ounce.

American trading session:
Canadian Dollar: According to the expectations, the Bank of Canada left the principal rate unchanged at the level of 1.00%. As a result, the greenback managed to strengthen against its Canadian competitor.

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Technical analysis for 13/04
EURUSD
The pair has risen to 1.44400 and may roll back to 1.42996 if stays below 1.44400.
Resistance: 1.44400, 1.46222, 1.47342
Support: 1.42996, 1.41780, 1.40690
GBPUSD
The pair has risen to 1.63316. The pair couldn’t break this level and may return to 1.62050.
Resistance: 1.63316, 1.64636, 1.67165
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair has declined to support 0.89635.
Resistance: 0.91079, 0.92026, 0.93069
Support: 0.89635, 0.88418, 0.87214
USDJPY
The pair couldn’t break 84.866 and rolling back to 83.933. If 83.933 is broken the pair will decline to 83.065.
Resistance: 84.866, 85.960, 86.861
Support: 83.933, 83.065, 82.219
AUDUSD
The pair is rolling back. Support maybe met at 1.03535.
Resistance: 1.05311, 1.06164, 1.07005
Support: 1.04407, 1.03535, 1.02705
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