Demand for save-heaven currencies remains high.
Asian and European trading session:
Euro: The pair strengthened in the range of $1.4250. During the European trading session the pair stabilized and traded in the $1.4240 – $1.4285 zone.
US Dollar: The dollar declined against the euro amid speculations that the FRS would report its plans for a new round of quantitative easing.
British Pound: The GBP/USD pair strengthened and in the area of $1.6400, but wasn’t able to consolidate above this level and returned to the area of $1.6340.
Japanese Yen: As a save-heaven currency, the yen rose against the major currencies on concerns about the slowing economic growth in the U.S. and on the EU debt crisis. The USD/JPY showed minimums around the Y77.00 level.
Australian Dollar: Falling stock markets caused the outflow of capital from high-yielding currencies like the Australian dollar.
American trading session:
Swiss Franc: Swiss franc reached another record high against the U.S. dollar.
Canadian Dollar: The Canadian dollar strengthened against the greenback due to the rising oil prices.
Technical analysis for 10/08
EURUSD
The key level for the pair is 1.40690, if this level is broken the pair will decline to Fibonacci 61.8% at 1.38867.
Resistance: 1.42996, 1.44400, 1.46222
Support: 1.41780, 1.40690, 1.38554
GBPUSD
The pair could not stay above below Fibonacci 38.2% 1.64636. MACD shows sell signal. Key level is 1.62050 after which may be expected decline to 1.60322.
Resistance: 1.63316, 1.64636, 1.65706
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair is trading around 0.73264.
Resistance: 0.73265, 0.74362, 0.75450
Support: 0.71993, 0.70687, 0.69336
USDJPY
The pair is aiming to 76.463.
Resistance: 77.539, 78.345, 79.070
Support: 76.463, 75.425, 74.414
AUDUSD
The pair had nearly touched first level of correction Fibonacci 23.6% at 0.98759. The pair may return to this level again.
Resistance: 1.03535, 1.04407, 1.05332
Support: 1.02558, 1.01744, 1.00907