Euro reaches a monthly maximum against the greenback.
Asian and European trading sessions:Euro: Euro traded around its maximum levels due to the decreased concerns over the European crises. Possibility that Euro-zone would agree on allocating additional bailout package for Greece supported the euro. The EUR/USD traded in the range of $1.4620-$1.4660.
Positive Euro-zone fundamentals were released on Monday. Euro-zone monthly producer price index for April turned out to be above forecasts: 0.9% against expected 0.8%.
According to the experts’ predictions, the ECB would leave the principal rate unchanged at the previous level of 1.25%.
US Dollar: US dollar remained weak on Monday after the negative US fundamentals release last week.
British Pound: The GBP/USD followed the euro dynamics and reached the temporary maximums of $1.6460, and then decreased to the minimums of $1.6388.
Japanese Yen: The Japanese yen rate increased as a result of the demand growth for the save-heaven currencies. The general tendency pointed out on overall slow-down of the world economical growth rate.
The USD/JPY tested minimums of Y80.00 level, as demand for the high-risk currencies started to increase.
Oil: Oil prices decreased below the $100 mark per barrel.
American trading session:
Australian Dollar: The AUD/USD pair reached maximums at the 1.0766 mark. The released Australian performance of construction index supported the national currency.
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Technical analysis for 7/06
EURUSD
The pair has risen to 1.46222. If this level is broken the pair will rise to 1.47342.
Resistance: 1.46222, 1.47342, 1.48550
Support: 1.44400, 1.42996, 1.41780
GBPUSD
The pair has tested Fibonacci retracement 38.2% and declining. If the pair is able to break 1.63316 the pair will decline to 1.62050.
Resistance: 1.64636, 1.65706, 1.67165
Support: 1.63316, 1.62050, 1.60322
USDCHF
The pair has declined to 0.83541.
Resistance: 0.84685, 0.85939, 0.87214
Support: 0.83541, 0.82483, 0.81356
USDJPY
If the pair stays below 80.438 the pair may decline to 79.707.
Resistance: 80.438, 81.399, 82.219
Support: 79.707, 79.070, 78.345
AUDUSD
The pair has broken 1.07005 and aiming to 1.06164.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407