Risk appetite trends and a non-favourable calendar have played against the world’s reserve this week, where the effects of QE3 by the Fed seems vanished by now.
USD would remain under pressure in the upcoming sessions, as Consumer Confidence (Tuesday), New Home Sales (Wednesday), Durable Goods Orders (Thursday), Personal Consumption Expenditure (Friday) and the Reuters/Michigan Consumer Sentiment Index (Friday) are the most relevant releases in the US in the next week.
At the moment: AUD +0.61%, EUR +0.33%, GBP +0.37%, NZD +0.40%, CAD -0.18% CHF -0.27% and JPY -0.01%. Wall St. is up 0.17% at 13,617 pts. and S&P500 is advancing 0.24% at 1,464 pts. WTI is up 0.64% at $93.50/bbl and Gold is up 0.88% at $1,782/oz
The index is down 0.26% at 79.28 and according to www.tradingcentral.com, the next support levels lie at 79.15 followed by 79.00 and 78.90
On the upside, a breakout of 79.65 would bring 79.80 and 80.00