EUR/USD Weakens on Goldman, Greece Concern

The Euro weakened at the start of the week as the SEC’s allegations against Goldman Sachs dampened demand for riskier currencies. The fraud allegations should only have near term reaction as global fundamentals continue to point to a firm recovery. Greece continues to be the biggest pressure on the single currency as the outlook remains [...]

EUR/USD All Eyes on Greece (1.3400)

The Euro recovered from a 1.3283 low yesterday, as ECB President Jean-Claude Trichet soothed fears of a Greek default. Trichet not only played down the likelihood of a Greek debt default, but also noted he was not completely opposed to IMF aid. EUR/USD is also getting a boost on growing speculation that assistance to Greece [...]

AUD/USD Rises Towards 2010 high, 0.9330

Trend: Weekly : Sideways Daily: Bullish Hourly: Bullish Support & Resistance: From current levels, 0.9308, the pair finds initial resistance at 0.9330, followed by 0.9410, and 0.9440. Support to watch is the 0.9300 followed by the 0.9270 level, 0.9223 and 0.9192. Strategy: The Aussie is a few pips away from reaching its 2010 high, 0.9330, [...]

NZD/USD Limit Buy at 0.7071

Trend: Weekly : Sideways Daily: Sideways Hourly: Bullish Support & Resistance: From current levels, 0.7125, the pair finds initial resistance at 0.7140, followed by 0.7170, and 0.7230. Key support to watch is the 0.7100 followed by 0.7069 level, 0.7000 and 0.6970. Strategy: Near term bias is tilted to the upside. Look to buy on dips [...]

AUD/USD Limit Buy 0.9230

The Aussie extended gains above the 0.9250 resistance level to reach at 0.9290 high. In spite of renewed fears over Greek debt, the Aussie remains resilient on fundamental support. The RBA increased rates further on Tuesday and is expected to continue its hawkish stance. Bias is tilted to the upside with dips likely to be [...]

EUR/USD Unable to Sustain Above 1.3550

The Euro extended recovery gains to a 1.3560 high unable to sustain above 1.3550. Trading will be rather erratic for the rest of the week as trading volumes should be lower on the holiday week. Traders will now turn their focus to the U.S. non-farm employment report Friday expected to show the first monthly job [...]

*Update AUD/USD Drops on Negative Data

*Update: see comment section below The Aussie fell sharply from a 0.9216 high as retail sales and building approvals declined. Retail sales reported a decline of 1.4%, while building approvals dropped by 3.3%. This compares to analysts expectations of +0.3% and +2.1%, respectively. Bias is now neutral in the near term. Although recent data would [...]

EUR/USD Ahead of ADP Data (1.3384)

The Euro recovered ground from a 1.3384 low as better-than-expected economic data spurred short covering in the pair. Although the trend remains bearish, traders need to be cautious in today’s session as we approach the last day of the quarter. This prompts end-of-book squaring which may lead to a trend reversal in the near term. [...]

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