Demand for save-haven grows.
Asian and European trading sessions:Euro: On the first day of this week the euro was affected by the reduction of the EC countries’ credit ratings by Moody’s Investors Service. Last week the credit rating of Ireland has been reduced for 5 levels. Therefore, the euro was under pressure. Forecasts for the euro are bearish as well, according to the experts’ opinion.
The EUR/USD pair traded in the range of $1.3130 – $1.3180. Its minimum was set at the level of $1,3093.
US Dollar: The US dollar strengthened against the growing concerns over the European fiscal crises. Expectations for positive US news’ releases rendered support for the greenback.
British Pound: The GBP/USD pair traded around the range of $1.5475.
Japanese Yen: The USD/JPY pair traded in the range of Y84.10-Y83.80.
Swiss Frank: Swiss frank showed record-breaking maximums against the euro against the European uncertainty.
Oil: Oil prices managed to grow to the $88.87 mark.
American trading session:
Euro: The released today European fundamentals could not support the euro. German Producer price indices decreased below expectations. And Euro-zone consumer confidence showed reductions below its forecast.
US Dollar: Growing tension in the Korean Peninsula pressured the high-risk assets and supported the greenback.
Technical analysis for 21/12
EURUSD
The pair has reached Fibonacci retracement 38.2% at 1.31136 and rolled back to 1.31674. If the pair stays above 1.31136 the pair will try to rise to 1.33143.
Resistance: 1.33143, 1.34882, 1.35985
Support: 1.30277, 1.28630, 1.26897
GBPUSD
The pair has declined to 1.54842. If the pair stays above this level the pair will rise to 1.56722.
Resistance: 1.56722, 1.58543, 1.60322
Support: 1.54842, 1.53482, 1.52063
USDCHF
The pair has broken 0.96480 and aiming to strong support at 0.95510.
Resistance: 0.96480, 0.97130, 0.97892
Support: 0.95510, 0.94661, 93831
USDJPY
The pair has declined below 83.933. It may bring pair to 83.065.
Resistance: 83.933, 84.866, 85.960
Support: 83.065, 82.219, 81.399
AUDUSD
The pair is aiming to 1.00067.
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424