Concerns over European banking sector pressured the euro. Asian and European trading sessions:
Euro: Monday saw the EUR/USD trading in a tight range of $1.3425-$1.3500. The euro was still holding its maximum levels against the greenback, but the released data could not allow the euro to grow higher.
Today the rating agency Moody’s reduced the credit rating of the Anglo Irish Bank Corporation Limited with the negative forecast, and the final decision regarding the necessary support for the bank would be disclosed by the Irish Government before October 1-st. As a result, concerns regarding the condition of the European banks reinforced, which rendered additional pressure on the euro. According to the speculations, some banks would require additional capital for their stabilization and restructuring.
According to the published information, the European Committee was not sure about the stability of the German banks either.
British Pound: The GBP/USD pair traded in the range of $1.5785-$1.5850.
Japanese Yen: The USD/JPY traded in the range of Y84,10-Y85,20.
Australian Dollar: According to the released information, the probability that the Reserve Bank of Australia would increase the principal rate next week, rendered support to the Australian dollar, which reached its 2-year maximums against the greenback.
Oil: Concerns over the European banks stability could pressure the oil rate as well. The prices were set around the $76.60 level per barrel. The rate showed decrease to $75.80 per barrel. American trading session:
US Dollar: The IMF decided to extend its control over the financial sector stability to 25 important jurisdictions. The checking and assessment would be fulfilled every 5 years.
Technical analysis for 28/09 EURUSD
The pair has reached resistance at 1.34882. If the pair closes below this level, the pair will drop to 1.33143. If the pair breaks 1.34882 the pair will rise to 1.35985.
Resistance: 1.34882, 1.35984, 1.37486
Support: 1.33143, 1.30901, 1.30277
GBPUSD
The pair has reached 1.58543. If the pair closes below 1.5843 the pair will drop to 1.56722. If the pair closes above 1.58543 the pair will rise to 1.60322.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.52523
USDCHF
The pair has tested support 0.97915. If the pair closes below 0.97915 the pair will decline to 0.97130. If the pair closes above 0.97915 the pair will rise to 0.99066.
Resistance: 0.99066, 1.00209, 1.01498
Support: 0.97915, 0.96616, 0.95006
USDJPY
The pair has reached support 84.260. If the pair closes below this level the pair will decline to 83.330. If the pair closes above 84.250 the pair will rise to 85.161.
Resistance: 85.161, 86.246, 87.014
Support: 84.260, 83.330, 82.219
AUDUSD
The pair is trading below resistance 0.96392. It may bring pair to return to 0.94898. If the pair closes above 0.96392 the pair will rise to 0.97715.
Resistance: 0.96392, 0.97715, 0.98436
Support: 0.94898, 0.93788, 0.92170
