The release of the GDP figures.
Asian and European trading sessions:
Euro: Today euro showed some growth as a correction from yesterday’s minimums. The willingness to take risks increased and high-risk currencies were supported. The EUR/USD pair increased to $1,3150 level.
The Euro-zone fundamentals, which were released today, supported the euro as well. The German import price index, the Italian retail sales and the Italian consumer confidence showed growth above expectations.
US Dollar: The greenback was under pressure in the threshold of the US GDP release.
British Pound: Sterling demonstrated negative dynamics today due to the released UK GDP level. The GDP for the 3-d quarter showed growth for only 0.7%, which was below the expected growth for 0.8% level. As a result, the GBP/USD pair decreased to $1.5426 minimums.
Later during the day the sterling managed to rehabilitate to the $1.5462 mark.
Japanese Yen: The yen decreased as the demand for the safe-haven assets dropped. The USD/JPY rate increased to Y83,85.
New-Zealand Dollar: The New-Zealand dollar was under pressure on Wednesday, since expectations for the growth rate of the national GDP were negative.
American trading session:
US Dollar: The released US GDP for the 3-d quarter showed growth below its forecast. The existing home sales were below expectations as well.
New-Zealand Dollar: The released GDP data turned out to be below forecasts. The New-Zealand quarterly GDP for the 3-d quarter dropped for 0.2%, when the indicator was supposed to grow for 0.1%.
Technical analysis for 23/12
EURUSD
The pair has reached Fibonacci retracement 38.2% at 1.31136. If the pair stays above 1.31136 the pair will try to rise to 1.33143. If the pair stays below 1.31136 the pair will decline to 1.30277.
Resistance: 1.33143, 1.34882, 1.35985
Support: 1.30277, 1.28630, 1.26897
GBPUSD
The pair has declined to Fibonacci retracement 23.6% at 1.53482 and may roll back to 1.54842.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.53482, 1.52063, 1.50594
USDCHF
The pair is aiming to test 0.94661, this is a strong level and low of 14.10.10.
Resistance: 0.95510, 0.96480, 0.97130
Support: 0.94661, 0.93831, 0.92938
USDJPY
The pair has drawn Diamond figure on daily graph. Confirmation will be received if the pair breaks 83.065 level and decline to 82.219. The end of the figure maybe expected at 81.399 or 80.438.
Resistance: 83.933, 84.866, 85.960
Support: 83.065, 82.219, 81.399
AUDUSD
The pair is aiming to 1.00067. If this level is broken the pair will rise to 1.00907 (here is the end of the Flag’s figure). Higher is a strong level 1.01744 (high of 11.05.2010).
Resistance: 1.00067, 1.00907, 1.01744
Support: 0.99207, 0.98436, 0.97424