Moody’s downgraded the Portugal credit rating.
Asian and European trading sessions:
Euro: According to the released information on Wednesday, Moody’s cut Portugal’s credit rating to junk status, which pressured the euro. But soon the EUR/USD regained some of its strength and reached the $1.4466 mark. Spreading concerns over the debt in Greece started to reinforce again.
In the meantime, the released today German Factory order demonstrated growth above forecasts.
British Pound: The GBP/USD dropped to $1.6000, even though the House prices increased above expectations.
Japanese Yen: The USD/JPY pair moved up to Y81.13.
Australian Dollar: The AUD/USD pair grew to the 1.0730 range in anticipation of the strong employment Australian statistics.
Oil: Oil traded around the level of $96.10 per barrel.
Gold: Gold demonstrated trading at the range of $1,511.10 per ounce.
American trading session:
US Dollar: The greenback strengthened against its competitors.
Technical analysis for 07/07
The pair has declined to support level at 1.44400. If this level is broken the pair will decline to 1.41780.
Resistance: 1.44400, 1.46222, 1.47342
Support: 1.42996, 1.41780, 1.40690
If the pair stays below 1.60322 the pair will decline to 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
The pair couldn’t break 0.84685 and aiming to 0.83541.
Resistance: 0.84685, 0.85939, 0.87214
Support: 0.83541, 0.82483, 0.81356
The pair stays below Moving Average (100) at 81.399. This may bring pair to decline to 80.438.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 79.070
The pair stays above 1.07005 and aiming to 1.07739.
Resistance: 1.07739, 1.08413, 1.09112
Support: 1.07005 ,1.06164, 1.05332