By HotForex | Daily Forex Analysis | Tue, Apr 17, 2012
After dropping below the psychological level at 1.3000 the EURUSD
made a come back closing around 1.3130. The US Retail Sales rose 0.8
percent in March compared to the 1.0 percent increase in February. The
speculation for European Central Bank intervention in Spanish bond
market grew yesterday. Jose Manuel Barroso – the European Commission
President stated yesterday that he was “absolutely confident that Spain
can meet its economic challenges.”
In the Asian session the pair traded
lower currently trading around the 1.3100 levels. Support for the EURUSD
is seen at 1.3038 and resistance is seen at 1.3149. The Inside View
indicator on HotForex shows that 54 percent of the traders are short on
the EURUSD.
GBPUSD
After the rise of round 90 pips and touching the levels
around 1.5910 yesterday the Cable started to lose some of its gains
during the Asian session and its currently trading around 1.5866. Today
we have the Consumer Price Index from the United Kingdom on the
calendar. This is considered the most important inflation data in the
UK, because it’s used as central bank’s inflation target. Support for
the GBPUSD is seen at 1.5841 and resistance is seen at 1.5933. The
Inside View indicator on HotForex shows that 54 percent of the traders
are short on the GBPUSD.
AUDUSD
After trading in range yesterday the pair dropped around 50 pips during the Asian session. Uncertainty surrounding the widening of the Yuan trading band generated some of the down side pressure on the pair as well. Support for the AUDUSD is seen at 1.0292 and resistance is seen at 1.0383. The Inside View indicator on HotForex shows that 57 percent of the traders are short on the AUDUSD.
USDCAD
The USDCAD rose marginally during the past two trading
sessions and its currently trading above parity. Investors are focused
on the interest rate decision of Bank of Canada along with other
economic data to be released from Canada today. Support for the USDCAD
is seen at 0.9967 and resistance is seen at 1.0027. The Inside View
indicator on HotForex shows that 59 percent of the traders are short on
the USDCAD.
