EUR/USD pair starts the week with new maximums.
Asian and European trading sessions:
Euro: Morning trading on Monday saw the decrease of the EUR/USD pair, as a result of the increased concern over the disagreement of the EC leaders regarding the European budget crises support measures. The EUR/USD dropped to $1,3200.
But after the released decision of the Chinese government, the euro rate grew, as the demand for the high-risk assets increased. The EUR/USD maximum was reached at the $1.3435 level.
US Dollar: On Monday morning the greenback strengthened as a result of the expectations for positive US fundamentals to be released later during the day. But after the announced information that the Chinese Government would not increase the interest rates, the stock market grew and the greenback was pressured.
Possibility, that the agency Moody’s Investors Service Inc. would change the US credit rating forecast to negative, rendered additional pressure on the greenback.
British Pound: The pound showed similar dynamics to the euro. The sterling was pressured by the released weak UK Rightmove house prices, and the GBP/USD dropped to $1.5716. But the weakened greenback pushed the GBP/USD pair to the maximums of $1.5897.
Oil: Oil prices grew due to the fact that Bank of China did not increase the interest rate. Therefore, the speculations on increased demand for oil reinforced. The rate was around the $88.18 mark per barrel. It maximum was reached at $89.10 mark per barrel.
Gold: Gold also demonstrated growth, and the price reached the $1395 level.
American trading session:
Canadian Dollar: The Canadian dollar shows growth for the 4-th day against the US dollar, and is coming close to parity.
Japanese Yen: The USD/JPY pair decreased to minimums of Y83.08.
Technical analysis for 14/12
EURUSD
The pair has reached Moving Average (100) 1.34157. If the pair stays below this level the pair will drop to 1.33143. If the pair closes above the pair will rise to 1.34882.
Resistance: 1.34882, 1.35985, 1.37486
Support: 1.33143, 1.31674, 1.30277
GBPUSD
The pair has reached 1.58543. Once the pair closes above this level the pair will rise to 1.60322.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53482
USDCHF
The pair has declined to 0.96480. Lower is strong support at 0.95510.
Resistance: 0.97130, 0.97892, 0.98750
Support: 0.96480, 0.95510, 0.94661
USDJPY
The pair is consolidating between 83.933 and 83.065.
Resistance: 83.933, 84.866, 85.960
Support: 83.065, 82.219, 81.399
AUDUSD
The pair has drawn Flag figure. The end of the figure maybe expected at 1.00907.
Resistance: 0.99207, 1.00067, 1.00907
Support: 0.98436, 0.97424, 0.96464