The yen weakened against the U.S. dollar. The USD/JPY pair grew to Y80.37 level.
Asian and European trading sessions:
Euro: The EUR / USD pair remained within the $ 1.3212 -$ 1.3263 range. The publication of weak PMI in France, Germany and the EU as a whole had the negative effect on euro trading dynamics and pressured the currency during both sessions. Also, the announcement of the Fitch credit rating agency, which reduced the credit rating of Greece to the “C” from “CCC ” did not provide any support.
US Dollar: The dollar grew to a six-month high against the yen to the level of Y80.35 showing the clear evidence that the U.S. economic is about to recovery in the nearest future. These positive expectations might reduce the possibility of starting of the 3d round of quantitative easing program by the Fed.
British Pound: The pound fell to lows of $1.5661against the U.S. dollar after the publication of the protocol of the last meeting of the Bank of England. In the published minutes of the meeting was noted that the Committee of the Bank of England expects the decline in inflation in 2012.
Australian and New Zealand dollars: The Australian and New Zealand dollars dropped after the publication of the preliminary value of the HSBC Flash China Manufacturing PMI index. An indicator of manufacturing activity in the country in February rose to 49.7 against the previous 48.8 in January.
American trading session:
Japanese Yen: The yen weakened above the level of Y80.35 against the dollar. The representative of the Ministry of Finance of Japan said that the yen is falling due to the easing of monetary policy by Bank of Japan and the Greek agreement.
Gold: The Gold reached the new highs of 1781 dollars per ounce and closed its day at the level of $1775.
Oil: The WTI oil futures on NYMEX grew to the highs of 106.6 dollars per barrel against the background of the situation around Iran.
Technical analysis for 23/02
EURUSD
The pair has risen to the resistance level at 1.33143. Support is at 1.31674.
Resistance: 1.33143, 1.34882, 1.35984
Support: 1.31674, 1.30277, 1.28630
GBPUSD
The pair has rolled back to 1.56722.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53482
USDCHF
The pair will try to decline to the Moving Average (200) at 0.90565.
Resistance: 0.92026, 0.93069, 0.93949
Support: 0.91079, 0.89635, 0.88418
USDJPY
The pair has risen to 80.438.
Resistance: 80.438, 81.399, 82.219
Support: 79.707, 79.070, 78.345
AUDUSD
The pair has declined to 1.06164 and may break this level and decline to 1.05332.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407