Elevated oil rate supports the commodity currencies.
Asian and European trading session:
New-Zealand Dollar: The New-Zealand dollar rate started to grow, due to the increased demand for the high-risk assets.
Canadian Dollar: The oil rate growth supported the increase of the Canadian export. As a result, the Canadian dollar reached its 3-year maximum against the US dollar.
Australian Dollar: The government of China reduced its yearly target rate of economic growth, which had a temporary negative impact on the Australian currency, since China is a major trade partner of Australia. At the same time Australian dollar was supported as a commodity currency also.
Euro: Euro started this week with an increase against major currencies, since market participants were expecting a possible increase of the principal rate by the ECB. During the Asian trading session the EUR/USD pair reached its maximums at the $1.3780 level. Later the euro managed to almost hit the $1.3861 level.
British Pound: The GBP/USD pair traded in the range of $1.6070-$1.6160. The sterling reached its maximum at the $1.6240 mark.
Japanese Yen: The USD/JPY pair traded in the range of Y81.60-Y81.75.
Oil: Oil prices continued to trade around its maximums.
American trading session:
US Dollar: Investors were expressing concerns on Monday regarding the upcoming speech of the head of the FRS, Ben Bernanke in Senate, which was planned for this Tuesday.
Technical analysis for 01/03
EURUSD
The pair has reached 1.38554 and may roll back to 1.37486.
Resistance: 1.38554, 1.39600, 1.40690
Support: 1.37486, 1.35984, 1.34882
GBPUSD
The pair is aiming to 1.63316.
Resistance: 1.63316, 1.64636, 1.65706
Support: 1.62050, 1.60322, 1.58543
USDCHF
The pair has found support at 0.92282 and rolling back to 0.93435.
Resistance: 0.93435, 0.95125, 0.96574
Support: 0.92282, 0.91658, 0.90202
USDJPY
The pair is aiming to 82.219.
Resistance: 82.21983.065, 83.933
Support: 81.399, 80.438, 79.707
AUDUSD
The pair has broken 1.01744 and may try to reach 1.02235.
Resistance: 1.01744, 1.02705, 1.03535
Support: 1.00907, 1.00067, 0.99207
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