Euro reaches 3-month maximum against the greenback.
Asian and European trading sessions:
Euro: Euro-zone representatives supported the possibility that Greece might receive additional financial help in order to avoid spreading of the budget crises.
The released today European fundamentals rendered additional support to the euro. In particular, German retail sales annualized showed growth for 3.6% against the forecasted 1.5%. Unemployment decreased in Germany as well. Euro-zone unemployment stayed at the previous level. As a result, the EUR/USD grew and reached the $1.4400 maximums.
Expectations for the increase of the ECB principal interest rate reinforced.
British Pound: The sterling followed the euro growth and reached the temporary maximums at the $1.6550 level.
Japanese Yen: Mooddy’s credit agency will reconsider the credit rating of Japan for its possible reduction. Therefore, the Japanese yen dropped.
The USD/JPY pair strengthened at the Y81.60 mark.
Oil: Investors’ optimism regarding the possibility of rendering additional financial support to Greece, pushed the oil prices higher. Canadian TransCanada pipeline leak increased concerns regarding the US oil inventories’ supply. Oil prices reached the $102.47 level per barrel.
Gold: Gold prices reached maximums at the $1540.80 mark per ounce.
American trading session:
Euro: The EUR/USD pair closed the week below the $1.4400 level.
British Pound: The GBP/USD decreased to the $1.6450 level.
Canadian Dollar: According to the released information, the Bank of Canada left the principal rate unchanged at the previous level of 1.00%. After that the Canadian dollar rate grew against the greenback.
Technical analysis for 1/06
EURUSD
The pair has reached resistance at 1.44400. If this level is broken the pair will rise to 1.46222.
Resistance: 1.46222, 1.4732, 1.48550
Support: 1.44400, 1.42996, 1.41780
GBPUSD
The pair has grown up to 1.65706 and started to roll back. At the moment support level is 1.64636, if the pair declines below this level the pair will decline to 1.63316.
Resistance: 1.65706, 1.67165, 1.68756
Support: 1.64636, 1.63316, 1.62050
USDCHF
The pair has declined to the channel line at 0.84685. This level may give support and the pair may roll back to 0.85939.
Resistance: 0.85939, 0.87214, 0.88418
Support: 0.84685, 0.83541, 0.82483
USDJPY
The pair stays below 81.399, this may bring pair to 80.438.
Resistance: 81.399, 82.219, 83.065
Support: 80.438, 79.707, 79.070
AUDUSD
The pair is aiming to 1.07739.
Resistance: 1.07739, 1.08413, 1.09112
Support: 1.07005, 1.06164, 1.05332