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Forex: GBP/USD consolidates losses below 1.5200

FXstreet.com (Barcelona) - The sterling is struggling to regain the key resistance of 1.5200 on Monday, as the risk-off tone is growing bigger amid renewed concerns on Cyprus.

In the opinion of William Moore, “The immediate stand-out technical level is the previous support band at 1.5300/5330 which, up until February this year, had supported price action very successfully since the summer of ’10… So the bias here is to begin to refavour the USD when the market creeps higher back towards 1.5300 and to re target the 1.5115/1.4907 levels”.

GBP/USD is now retreating 0.35% at 1.5177 facing the next support at 1.5143 (low Mar.25) ahead of 1.5090 (low Mar.21) and then 1.5026 (low Mar.20).
On the flip side, a breakout of 1.5262 (high Mar.25) would clear the way to the psychological level of 1.5300 and then 1.5330 (high Feb.22).

Forex: USD/JPY breaks below 94.20 and heads to 94.00

After falling around 90 pips from 94.90 in the last couple of hours, the USD/JPY has broken down the 94.20 level and it is heading to test the 94.00 frontier. Currently the pair is trading at 94.05.
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Forex Flash: NZD strategy profile – Westpac

According to Global FX Strategist Sean Callow at Westpac, “The NZD momentum is positive and should take the NZD/USD slightly higher to the 0.8380 level in the near-term. Beyond that, strength will depend on how Cyprus and local drought issues are resolved.”
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