The market reacted positively on the decision of providing assistance to Greece. Market review for 21.02.12: The market reacted positively on the decision of providing assistance to Greece.
Asian and European trading sessions:
Euro: The euro boosted against almost all its competitors after the report of an agreement for providing assistance to Greece. The EUR / USD pair rocketed to the highs of $1.3295 in just 30 min time period. During the European trading session the euro currency pulled down giving back 100 pips on fears that the reaching agreement on financial aid to Greece will not be the end of the current debt crisis. The EUR/USD pair dropped to the lows of $1.3198.
British Pound: The GBP/USD couple traded today in a range of $1.5863 to $1.5722 during both sessions.
Australian dollar: After the announcement of the Reserve Bank of Australia on the Board February Minutes Event on the existing potential for further lowering of interest rates due to an economic slowdown, the Australian dollar weakened against all its competitors.
American trading session:
Japanese Yen: The Yen fell for the fourth consecutive day against other currencies, showing that the interest of investors has changed and they likely to buy higher-yielding assets then hold the Japanese currency instead.
Gold: The price of gold grew on the news of the Euro group decision to grant Greece a second package of financial assistance amounting to 130 billion euro. The cost of the February gold futures today went up to 1757 dollars per ounce.
Oil: Oil rose to its highest level of nine months against the U.S dollar to 106.44 dollars per barrel against the decision on granting aid to Greece. March WTI futures closed this day at the level of $105.90.
Technical analysis for 22/02
EURUSD
The pair has risen to the resistance level at 1.33143. Support is at 1.31674.
Resistance: 1.33143, 1.34882, 1.35984
Support: 1.31674, 1.30277, 1.28630
GBPUSD
The pair has risen to 1.58543 and rolling back to 1.56722.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53482
USDCHF
The pair will try to decline to the Moving Average (200) at 0.90565.
Resistance: 0.92026, 0.93069, 0.93949
Support: 0.91079, 0.89635, 0.88418
USDJPY
The pair has risen to 79.707. The pair is trying to continue rising and aiming to 80.438.
Resistance: 80.438, 81.399, 82.219
Support: 79.707, 79.070, 78.345
AUDUSD
The pair has declined to 1.06164 and may break this level and decline to 1.05332.
Resistance: 1.07005, 1.07739, 1.08413
Support: 1.06164, 1.05332, 1.04407