Stuck Under EURJPY 112.00. EURJPY last seen at 111.77 points, almost flat in 2 days, although still within the range of as much as 180 pips, still rose 1.67% for the week. Currency pair recovered from session in London from daily low in 110.71, when a currency pair is down from a new 16-month high at 112.50 points Wednesday. EURJPY rally to reach high on Thursday at 112.15 points, which is now back down from that level.
Support close to the decline in lower EURJPY Monday at 111.24, followed by the low yesterday at 110.70 points, and the low on Monday / last Friday's high at 109.95. In order to increase the movement, resistance is high close yesterday at 112.15, followed by a new 16-month high at 112.50 points, and the low 16/24 May at 113.39/50 figures.
News Fiscal Cliff reverberate, Euro In Low Session
While news of the fiscal cliff that leads to a dead end until Christmas Day this year and while the Standard & Poor's cut its debt rating to CCC + from Cyprus B, Euro finally got through adversity to the session low of 1.3204 session high at 1.3252 figure. But still it can be said euro rose 0.2% from the opening session of Asia yesterday, and still gained 0.49% for the week. Analysts said the support level at 1.3185 and 1.3140. While the range of resistance are 1.3290, 1.3320 and 1.3385.
U.S. Fiscal Burden Euro Anxiety
Euro traded flat versus the U.S. dollar as the increasing concerns over the U.S. budget negotiations take a risk appetite which previously represented the U.S. economic data. The euro had hit a high of $ 1.3295 after U.S. GDP data the 3rd quarter was revised up more than expected on Thursday. Projected U.S. GDP end the 3rd quarter showed growth of 3.1%, up from 2.7% published last month.
"Concerns over U.S. fiscal gap clearly behind the movement today. Chairman of the U.S. House of Representatives John Boehner has surprised a lot of people," said Richard Franulovich, senior currency analyst at Westpac Securities in New York. Franulovich also added that technical factors also influence the Euro / Dollar. "The euro has failed to break the resistance of $ 1.33 during the last 2 days. Number of sellers around that level were also repulsed the Euro."
Support close to the decline in lower EURJPY Monday at 111.24, followed by the low yesterday at 110.70 points, and the low on Monday / last Friday's high at 109.95. In order to increase the movement, resistance is high close yesterday at 112.15, followed by a new 16-month high at 112.50 points, and the low 16/24 May at 113.39/50 figures.
News Fiscal Cliff reverberate, Euro In Low Session
While news of the fiscal cliff that leads to a dead end until Christmas Day this year and while the Standard & Poor's cut its debt rating to CCC + from Cyprus B, Euro finally got through adversity to the session low of 1.3204 session high at 1.3252 figure. But still it can be said euro rose 0.2% from the opening session of Asia yesterday, and still gained 0.49% for the week. Analysts said the support level at 1.3185 and 1.3140. While the range of resistance are 1.3290, 1.3320 and 1.3385.
U.S. Fiscal Burden Euro Anxiety
Euro traded flat versus the U.S. dollar as the increasing concerns over the U.S. budget negotiations take a risk appetite which previously represented the U.S. economic data. The euro had hit a high of $ 1.3295 after U.S. GDP data the 3rd quarter was revised up more than expected on Thursday. Projected U.S. GDP end the 3rd quarter showed growth of 3.1%, up from 2.7% published last month.
"Concerns over U.S. fiscal gap clearly behind the movement today. Chairman of the U.S. House of Representatives John Boehner has surprised a lot of people," said Richard Franulovich, senior currency analyst at Westpac Securities in New York. Franulovich also added that technical factors also influence the Euro / Dollar. "The euro has failed to break the resistance of $ 1.33 during the last 2 days. Number of sellers around that level were also repulsed the Euro."
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