Euro strengthens in anticipation of the Euro-zone Ministers’ Summit.
Asian and European trading session:
Euro: Euro remains under pressure by showing losses against major currencies on concerns about the fact that European leaders were unable to agree on measures aimed at stopping the further spread of the debt crisis in Spain and Greece. Next summit of the European leaders was scheduled for July 21.The financial stability of the region is the main issue of this meeting. But during the European session amid speculation that European officials were close to agreement, Euro strengthened against the dollar and Swiss Franc.
The EUR /USD pair dropped to the area of $1.4091. During the early European session the pair began to recover, overcame $1.4200 and showed highs at $1.4220.
British Pound: The GBP/USD pair traded in the range of $1.6080-$ 1.6160.
Japanese Yen: The USD/JPY pair traded in the range of Y79.00-Y79.20.
Australian dollar: The Australian dollar retreated after the published RBA report, which showed last meeting of the RBA has shown that the Australian central bank may pause in raising interest rates on the background of the debt crisis in Europe (need to paraphrase)
Canadian Dollar: The Canadian dollar fell against the backdrop of weakening global stock markets and as a result of the falling commodity prices, including oil.
The Bank of Canada left the principal rate unchanged at the previous level of 1.00%.
Oil: The oil prices grew to the level of $98.30 per barrel.
Gold: The gold rate decreased after the reached historical maximums and dropped to $1600.60 per ounce.
American trading session:
Dollar: Greenback was under pressure as the demand for the risky assets grew.
Technical analysis for 20/07
EURUSD
The pair has broken support level and aiming to reach Fibonacci 61.8% at 1.38867. Strong support is at median line at 1.37486.
Resistance: 1.41780, 1.42996, 1.44400
Support: 1.40690, 1.38554, 1.37486
GBPUSD
The pair has declined to 1.60322. If the pair stays below this level the pair will decline to 1.58543.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
The pair is aiming to 0.82483. If this level is broken the pair will rise to 0.83541.
Resistance: 0.82483, 0.83541, 0.84685
Support: 0.81356, 0.80313, 0.79115
USDJPY
The pair has broken 79.070 and aiming to 78.345.
Resistance: 79.070, 79.707, 80.438
Support: 78.345, 77.539, 76.463
AUDUSD
The pair may decline to median line at 1.05332.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407
Asian and European trading session:
Euro: Euro remains under pressure by showing losses against major currencies on concerns about the fact that European leaders were unable to agree on measures aimed at stopping the further spread of the debt crisis in Spain and Greece. Next summit of the European leaders was scheduled for July 21.The financial stability of the region is the main issue of this meeting. But during the European session amid speculation that European officials were close to agreement, Euro strengthened against the dollar and Swiss Franc.
The EUR /USD pair dropped to the area of $1.4091. During the early European session the pair began to recover, overcame $1.4200 and showed highs at $1.4220.
British Pound: The GBP/USD pair traded in the range of $1.6080-$ 1.6160.
Japanese Yen: The USD/JPY pair traded in the range of Y79.00-Y79.20.
Australian dollar: The Australian dollar retreated after the published RBA report, which showed last meeting of the RBA has shown that the Australian central bank may pause in raising interest rates on the background of the debt crisis in Europe (need to paraphrase)
Canadian Dollar: The Canadian dollar fell against the backdrop of weakening global stock markets and as a result of the falling commodity prices, including oil.
The Bank of Canada left the principal rate unchanged at the previous level of 1.00%.
Oil: The oil prices grew to the level of $98.30 per barrel.
Gold: The gold rate decreased after the reached historical maximums and dropped to $1600.60 per ounce.
American trading session:
Dollar: Greenback was under pressure as the demand for the risky assets grew.
Technical analysis for 20/07
EURUSD
The pair has broken support level and aiming to reach Fibonacci 61.8% at 1.38867. Strong support is at median line at 1.37486.
Resistance: 1.41780, 1.42996, 1.44400
Support: 1.40690, 1.38554, 1.37486
GBPUSD
The pair has declined to 1.60322. If the pair stays below this level the pair will decline to 1.58543.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
The pair is aiming to 0.82483. If this level is broken the pair will rise to 0.83541.
Resistance: 0.82483, 0.83541, 0.84685
Support: 0.81356, 0.80313, 0.79115
USDJPY
The pair has broken 79.070 and aiming to 78.345.
Resistance: 79.070, 79.707, 80.438
Support: 78.345, 77.539, 76.463
AUDUSD
The pair may decline to median line at 1.05332.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407