Forex-Metal Daily Analysis -28/04/2011

S&P Credit agency reduced the credit rating of Japan to negative level.

Asian and European trading sessions:
Euro: The EUR/USD reached maximums at the $1,4710 level during the morning trading.
US Dollar: Greenback reached its 16-month minimum against the euro on Wednesday. It is expected that the FRS would discuss further measures of economy stimulation.
Australian Dollar: The Australian dollar renewed its historical maximum against the US dollar due to the strong fundamentals, that were released today. The Consumer prices index for the first quarter turned out to be higher than expectations and above its previous volume: 3.3% against the forecasted 3.0%.
Expectations for the interest rate increase by the Reserve Bank of Australia reinforced.
British Pound: The GBP/USD rate also grew and the pair reached maximums of $1,6520.
Increased UK Gross Domestic Product for the first quarter supported the pound growth. As a result, the sterling hit the $1.6580 range.
Japanese Yen: S&P Credit agency reduced the credit rating of Japan to negative level. As a result, the national currency dropped. The USD/JPY pair grew to the Y82.30 mark.
Oil: Oil traded at the level of $111.00 per barrel.
Gold: Gold rate also increased to $1,506.70 level per ounce.

American trading session:
US Dollar: Greenback decreased against the euro after the FOMC meeting. Principal rate was left at the previous minimal level of 0-0.25% and the quantitative easing program would be completed in June, as it has been planned.
Euro: The EUR/USD grew to the level of $1,4790.
British Pound: The GBP/USD rate reached the $1,6620 maximum.


Technical analysis for 28/04

If the pair stays below 1.48550 the pair will decline to 1.47342.
Resistance: 1.48550, 1.49592, 1.50630
Support: 1.47342, 1.46222, 1.44400
The pair has reached resistance level at 1.67165.
Resistance: 1.67165, 1.68756, 1.70802
Support: 1.65706, 1.64636, 1.63316
The pair has broken 0.88418 and declined to 1.87214.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 1.84685
The pair has reached 81.399. If this level is broken the pair will decline to 80.438.
Resistance: 82.219, 83.065, 83.933
Support: 81.399, 80.438, 79.707
The pair has reached 1.09112.
Resistance: 1.09112, 1.09782, 1.10409
Support: 1.08412, 1.07739, 1.06164