Forex-Metal Daily Analysis – 14/10/10

Positive Asian economic data supported the risk appetites. Asian and European trading sessions:
Euro: Expectations for the release of the strong European statistics pushed the EUR/USD rate to the maximums of $1.3982. The Euro-zone industrial production indeed showed growth for 1.0% against the expected 0.8%. 
British Pound: Meanwhile the GBP/USD pair showed minimums at the $1.5770 mark. Maximums were reached at the level of $1.5886. The released today UK jobless claims for September showed unexpected growth for 5.3K against the increase of 4.5K. Nevertheless, the risk appetite growth rendered considerable support to the sterling.
Australian Dollar: The Australian fundamentals, which were released on Tuesday, supported the Australian dollar. The Westpac Consumer confidence index for October increased to 117.0 compared to the 113.2 last month. The AUD/USD maximum was set at the $0.9880 mark.
Japanese Yen: Asian stock markets’ growth resulted in a weakening of the yen, which stepped back from its previously reached maximums. Speculations, that Asian economy was rehabilitating, reinforced.
The Japanese statistics, which was published on Tuesday, was positive. The machine orders for August grew for 10.1%, when the forecasted level was at -3.9%. Therefore, the demand for the save haven currencies, such as Japanese yen and American dollar, dropped.
Oil: The oil rate maximums were reached at the level of $82.33 per barrel.
Gold: Today the gold renewed its historical maximum at the level of $1373.65 per ounce. American trading session:
US Dollar: According to the experts’ opinion, the second quantitative easing program would be introduced after the next FOMC meeting. The greenback dropped against its major competitors.
In addition, according to the released US corporations’ reports, the revenues increased. Therefore, the risk appetites are growing.
New-Zealand Dollar: The released nation’s retail sales report for August showed 0.0% against the forecasted growth for 0.3%. As a result, the New-Zealand dollar rate fell.
Technical analysis for 14/10 EURUSD
The pair has reached 1.40690. If this level is broken the pair will rise to 1.41780. If the pair stays below 1.40690 the pair will decline to 1.39600.
Resistance: 1.40690, 1.41780, 1.42996
Support: 1.39600, 1.38554, 1.37486
The pair is aiming to 1.60322. If this level is broken the pair will rise to 1.62050. If pair stays below 1.60322 the pair will drop to 1.58543.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53301
The pair has broken 0.95510 and pair is aiming to 0.94661.
Resistance: 0.96480, 0.97130, 0.97915
Support: 0.95510, 0.94661, 0.93831
The pair has reached 81.162. If the pair breaks this level, the pair will drop to 80.438.
Resistance: 82.219, 83.330, 84.260
Support: 81.162, 80.438, 79.707
The pair is aiming to 1.00067.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97715