The greenback drops against the major currencies. Asian and European trading sessions:
Euro: The EUR/USD pair traded in the range of $1,3565-$1,3600.
Market participants are waiting for the release of the German unemployment change data tomorrow. The figure is expected to decrease for 20,000, which confirms the European economic recovery, which in turn supports the euro rate. According to the experts’ opinion, the European employment condition is much stronger, than that of the US.
US Dollar: American dollar was still under pressure as a result of the previously released negative US fundamentals. The substantial decrease of the US consumer confidence index had a strong influence on the greenback.
Speculations regarding the further FRS quantitative weakening policies, aimed to support the American economy, continued to pressure the US dollar rate.
British Pound: The GBP/USD pair grew and reached the $1,5860 mark.
Japanese Yen: Japanese Tankan indices, which were published yesterday, continue to render support to the yen on Wednesday as well. The yen strengthened, and the USD/JPY reached minimums at the Y83,50 level.
Oil: Oil rate showed some growth over the released industrial business activity index from China, which demonstrated increase. The rate grew to the $76.56 mark per barrel. American trading session:
US Dollar: Experts’ expectations for the weak US statistical data and the concerns over the slow-down of the US economy rehabilitation rate continued to pressure the greenback. The Chicago purchasing manager for September, which is planned to be published tomorrow, is expected to drop to 55.9 from the previous month’s level of 56.7.
According to the current situation, the greenback decreased and reached 8-months minimums against the major currencies.
Oil: The oil rate continued to increase and reached the $78 mark per barrel.
Technical analysis for 30/09 EURUSD
The pair has reached Moving Average (500) at 1.36498 and rolling back. The pair may decline to support 1.34882.
Resistance: 1.35984, 1.37486, 1.38554
Support: 1.34882, 1.33143, 1.31674
GBPUSD
The pair is under pressure of trendline 1.58962.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.52523
USDCHF
If the pair breaks 0.97915 the pair will rise to 0.99066.
Resistance: 0.97915, 0.99066, 1.00209
Support: 0.97130, 0.96480, 0.95510
USDJPY
The pair is aiming to 83.330.
Resistance: 84.260, 85.161, 86.246
Support: 83.330, 82.219, 79.957
AUDUSD
The pair is correcting after sharp rise. First aim is 0.96392, second 0.94898.
Resistance: 0.97715, 0.98436, 0.99438
Support: 0.96392, 0.94898, 0.93788
