Euro Stranded Near 1.2960; Potential Failure of Greece. Upon reaching the area of 1.3020, Euro turns down and move to follow movement up as risk appetite failed to bring the stock to a negative area. Chicago PMI data were weaker than expected, and reports that Greece may not receive assistance from the Troika burden Euro. However, the Euro managed to find buying at 1.2955 level and survive in small areas during the U.S. session. Currently, the euro was trading at 1.2960/65 area, where the Euro looks almost unchanged since opening. For the level of technical, nearest support seen at 1.2945 for the Euro, 1.2900 and 1.2880. While the range of resistance might be found at 1.3000, 1.3020 and 1.3075.
Aussie Detained Under Around 1:04
Aussie currently at 1.0375, is in ascending triangular pattern that has occurred since last Thursday, with prices in the area of 1.04, which is also a high yesterday. Euro still looks flat from the opening session of Asia Pacific yesterday, and is still flat on weekly, recovering from its low of 1.0325 on Monday at the numbers. Even important for the Aussie these days is or Manufacturing PMI, followed by HSBC PMI Final.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: "movements per hour chart shows price below 20 SMA and indicators moving towards negative area", said the analyst, and he continued: "which indicates that momentum is not enough nowadays. Within 4 hours of technical movement movement is still flat, barely positive. Supervise penetration below 1.0350 to see any pressure, ready to experience the daily bearish signal, "concluded Valeria. Analysts are finding support at around 1.0350, 1.0330 and 1.0300. While the range of resistance are 1.0380, 1.0410 and 1.0445.
Aussie Detained Under Around 1:04
Aussie currently at 1.0375, is in ascending triangular pattern that has occurred since last Thursday, with prices in the area of 1.04, which is also a high yesterday. Euro still looks flat from the opening session of Asia Pacific yesterday, and is still flat on weekly, recovering from its low of 1.0325 on Monday at the numbers. Even important for the Aussie these days is or Manufacturing PMI, followed by HSBC PMI Final.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: "movements per hour chart shows price below 20 SMA and indicators moving towards negative area", said the analyst, and he continued: "which indicates that momentum is not enough nowadays. Within 4 hours of technical movement movement is still flat, barely positive. Supervise penetration below 1.0350 to see any pressure, ready to experience the daily bearish signal, "concluded Valeria. Analysts are finding support at around 1.0350, 1.0330 and 1.0300. While the range of resistance are 1.0380, 1.0410 and 1.0445.
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