Instability in Portugal and possible deepening of the crises.
Asian and European trading sessions:
Euro: Instability in Portugal and concerns regarding the possible deepening of the crises pressured the euro on Wednesday. The EUR/USD pair showed minimums at the level of $1.4150 in the threshold of the Portuguese Parliament meeting today. New reductions of the budget would be discussed, and contradictions between the parties could result in a political crises.
Announcement regarding the possible suspension of the European Financial Stability Facility extension pressured the euro, which dropped against its counterparts.
British Pound: Pound started the day at the previously reached maximum levels. Market participants were waiting for the release of the Bank of England meeting report. After the publication of the minutes of the meeting, the sterling dropped against the US dollar.
The GBP/USD pair reached minimums at the $1.6265 mark.
Japanese Yen: The USD/JPY pair traded in the range of Y80.70-Y81.00
Oil: Oil traded at the level of $105.39 per barrel.
Gold: Gold rate showed increase to the $1,433.10 mark per ounce.
American trading session:
Euro: The EUR/USD pair dropped to $1.4150 minimums.
British Pound: Pound decreased to the $1,6240 minimums.
Technical analysis for 24/03
EURUSD
The pair is declining. Support maybe met at 1.39600.
Resistance: 1.41780, 1.42996, 1.44400
Support: 1.40690, 1.39600, 1.38554
GBPUSD
MACD divergence on daily graph may push the pair to start corrections. Strong resistance maybe met at 1.64636.
Resistance: 1.64636, 1.65706, 1.67165
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair is trading between 0.91079 and 0.89635.
Resistance: 0.91079, 0.92026, 0.93069
Support: 0.89635, 0.88417, 0.87214
USDJPY
The pair is trying continue declining and aiming to 80.438.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 79.707
AUDUSD
The pair is trying to recover. Resistance 1.01873, support 1.00031.
Resistance: 1.01744, 1.02705, 1.03535
Support: 1.00907, 1.00067, 0.99207