Tradervox (Dublin) – The single currency held on the recovery the late night recovery of yesterday as it traded above the 1.3300 levels. The pair is approaching the monthly highs formed during this week. It is currently trading around 1.3351, up about 0.38% for the day.
The support may be seen at 1.3325 and at 1.3280. The resistance may be seen at 1.3360 and at 1.3400 levels. Retail sales in Germany declined in the month of February by 1.1% against the expected rise of 1.2%. EMU released the CPI today which came at 2.6% while the expectation was 2.5%.
The Sterling Pound broke the 1.6000 resistance and went above it to form a fresh high of 1.6033 during the European session. This is the first time the cable has been able to trade above this important psychological level this year. It is currently trading around 1.6024, up about 0.43% for the day. The resistance may be seen at 1.6050 and above at 1.6100 levels.
The USD/CHF pair again approaching the 0.9000 levels as it prints a fresh low of 0.9011. It is currently trading near the low at 0.9018, down about 0.47% for the day. The support may be seen at 0.9000 and below at 0.8950. The resistance may be seen at 0.9020 and above at 0.9050. KOF leading indicator came better than expected at 0.08 against the expectation of 0.04.
The USD/JPY pair has also given up the 82 levels and printed fresh low of 81.87. It is currently trading around 82, down about 0.54% for the day. The support may be seen at the current levels and below at 81.50. The resistance may be seen at 82.40 and above at 82.90. Industrial production in Japan came below expectation at 1.5% against the expected value of 3.7%.
Australian dollar has come above the 1.0400 levels and is trading between 1.0393 and 1.0410 for most part of the day. It is currently trading around 1.0401, up about 0.20% for the day. The support may be seen at the current levels and below at 1.0380. The resistance may be seen at 1.0440.
The US dollar index is trading below the 79 levels at 78.95.
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