EUR/USD
In spite of being under pressure for much of the session on the back of the never-ending uncertainty over the Greek PSI talks, as well as report that the bailout package will have to be increased by a further EUR 15bln. In addition to that, market talk of a left-hand side ECB fix, as well as downbeat comments from EU’s Juncker further weighed on the pair. However, the pair staged a rebound late in the session following a dovish testimony by Fed’s Bernanke who said that even more aggressive strategies than have been pursued recently to achieve fiscal stability are warranted over the longer term. In terms of technical levels, supports are seen at 1.3023, 1.2931 and then at 1.2854. On the other hand, resistance levels are noted at 1.3199, 1.3235 and then at 1.3282.GBP/USD
The pair settled the session little changed and unlike EUR/USD, failed to take advantage of renewed weakness in the USD following a dovish testimony by Fed’s Bernanke. Of note, UK Construction PMI data came in below the consensus estimate, underpinning the fragile nature of the economic recovery. In terms of technical levels, supports are seen at the 21Day Upper Bollinger Level at 1.5879 and then at the 10DMA line at 1.5698. On the other hand, resistance levels are seen at 1.5888 and then at the 200DMA line at 1.5952.USD/JPY
The pair finished the session little changed after Japanese Finance Minister Azumi has said the domestic economy cannot overlook speculative moves in the foreign exchange market, and he will take decisive steps if necessary to intervene. In terms of technical levels, supports are seen at 76.01/00 and then at 75.31. On the other hand, resistance levels are seen at 76.42/55 and then at 76.78.
