Analytics, News, and Forecasts for CFD Markets: currency news — 26-03-2012.

Resistance 3:1500 (psychological level)

Resistance 2:1440 (high of 2008)

Resistance 1:1407/10 (area of Mar 19 high and high of June’2008)

Current price: 1405,50

Support 1:1400 (earlier resistance, Mar 22 high)

Support 2:1393 (session low)

Support 3:1380 (Mar 23 low)

Data:

08:00 Germany IFO - Business Climate March 109.6 109.7 109.8

08:00 Germany IFO - Current Assessment March 117.5 117.0 117.4

08:00 Germany IFO - Expectations March 102.3 102.6 102.7

The dollar strengthened against the yen and retreated from session highs against euro and pound on bets U.S. growth is gathering pace.

Economists said a U.S. report this week will show orders for durable goods increased in February.

The euro weakened against the dollar after Italian Prime Minister Mario Monti said Spain could reignite the region’s debt crisis.

EUR/USD: the pair showed low in $1,3190 area then restored in $1,3250 area.

 

GBP/USD: the pair showed low in $1,5800 area then restored in $1,5880 area.

 

USD/JPY: the rate grown in Y83.00 area.

  

US data starts at 1400GMT by NAR Pending Home Sales.

EUR/USD

Offers $1.3320, $1.3300, $1.3245/50

Bids $1.3170/60, $1.3145/40, $1.3135/30

EUR/JPY

Offers Y111.40/45, Y111.00, Y110.80/85, Y110.45/50, Y110.20/30

Bids Y109.55/50, Y109.20/15, Y109.10/00, Y108.50/45, Y108.40/35, Y108.25/20

Resistance 3: Y84.20 (area of Mar 15 high)

Resistance 2: Y83.30 (МА (200) for Н1)

Resistance 1: Y83.00 (Mar 23 high, Mar 19 low)

Current price: Y82.95

Support 1: Y82.50 (intraday low)

Support 2: Y81.90 (Mar 13 and 23 lows)

Support 3: Y81.50 (Mar 9 low)

Resistance 3: Chf0.9200 (Mar 15 low)

Resistance 2: Chf0.9180 (Mar 19 and 22 highs)

Resistance 1: Chf0.9140 (session high, Mar 23 high)

Current price: Chf0.9103

Support 1: Chf0.9075/70 (session low, Mar 8, 21 and 23 lows)

Support 2: Chf0.9020 (Mar 1 low)

Support 3: Chf0.8930 (low of February)

Resistance 3 : $1.6090 (Nov 11-14 highs)

Resistance 2 : $1.5990 (high of February)

Resistance 1 : $1.5910/20 (Mar 19, 21 and 23 highs)

Current price: $1.5860

Support 1 : $1.5800 (session low, МА (200) for Н1)

Support 2 : $1.5770 (Mar 22 low)

Support 3 : $1.5750 (area of Mar 13-15 highs)

Resistance 3 : $1.3490 (high of February)

Resistance 2 : $1.3360 (Mar 1 high)

Resistance 3 : $1.3280/90 (Mar 8, 21 and 23 highs)

Current price: $1.3235

Support 1 : $1.3190 (session low, Mar 23 low, МА (100) for D1)

Support 2 : $1.3140 (area of Mar 19 and 22 low)

Support 3 : $1.3040 (Mar 16 low)

Asian stocks fell for a second day, extending last week’s loss, amid concern exporter earnings are deteriorating and after a report Chinese banks have understated the risks of loans to local governments.

Nikkei 225 10,018.24 +6.77 +0.07%

Hang Seng 20,668.86 +0.06 0.00%

S&P/ASX 200 4,262.8 -7.59 -0.18%

Shanghai Composite 2,350.6 +1.06 +0.05%

BYD Co., the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., slumped 5 percent in Hong Kong after saying first-quarter profit may fall as much as 95 percent.

Agricultural Bank of China Ltd. led mainland lenders lower in Hong Kong.

Leighton Holdings Ltd. rose 2.7 percent after Australia’s largest builder said it won $400 million in new contracts.

EUR/USD moves below $1.3200 to extend its corrective pullback off overnight highs at $1.3285 to $1.3195. Move trips stops below the figure but rate seen meeting some profit take demand which is currently providing a cushion. However, recovery efforts so far remain shallow, the rate edging back just above $1.3200, and seen keeping focus on the downside. Next support around $1.3190, a break to allow for a deeper move toward $1.3170/60.

The euro rose for a second day against the yen on prospects Europe may agree to combine two rescue funds to halt the spread of its sovereign-debt crisis.

The 17-nation euro gained before a report forecast to show German business confidence held at the highest level since July. European policy makers are discussing how to add to bailout funds, for example by allowing the temporary European Financial Stability Facility and the permanent 500 billion-euro ($664 billion) European Stability Mechanism to work concurrently to make more money available.

The dollar advanced against the yen before a U.S. report this week that may show orders for durable goods increased in February. The dollar rose for the first time in four days against the yen before a March 28 report projected to show bookings for long-lasting factory goods rose 3 percent last month after decreasing 3.7 percent in January, according to the median estimate of economists surveyed by Bloomberg News. Gains may be limited as the U.S. currency’s decline below its 20-day moving average last week may signal a reversal of the greenback’s bullish trend, Gaitame.com Research Institute Ltd. said, citing trading patterns.

The currencies of Australia and New Zealand climbed against the yen as prospects of a recovery in the world’s largest economy boosted demand for higher-yielding assets.

EUR/USD: during the Asian session the pair traded in a range $1.3260-$1.3285.

GBP/USD: during the Asian session the pair traded in a range $1.5860-$1.5880.

USD/JPY: during the Asian session the pair restored after Friday’s falling.

The main data release comes at 0800GMT with the German IFO business survey, which is expected to see the Business Climate Index edge higher to 109.7. At 1200GMT, Federal Reserve Chairman Ben Bernanke is due to deliver the opening speech at the National Association for Business Economics in Arlington, Va. US data starts at 1400GMT by NAR Pending Home Sales and then at 1430GMT by

the weekly MNI Retail Index as well as the Dallas Fed Manufacturing Outlook Survey.

On Monday the dollar Index fell to a one-week low as traders sold the U.S. currency in favor of the Swiss franc, triggering automatic sell orders for the pair that further weighed on the greenback.

The 17-nation euro also rose against the dollar as it broke through its 100-day moving average, a technical level that once breached, may spur further appreciation. The shared currency earlier fell against most of its major counterparts before a report forecast to show a contraction in industrial output.

On Tuesday the dollar rose against most of its major counterparts as concern increased that China’s economic growth outlook has cooled, spurring demand for the currency of the world’s largest economy. The U.S. currency strengthened after BHP Billiton Ltd. (BHP) said China’s steel production is slowing, boosting concern about the nation’s growth outlook. BHP, whose biggest customer is China, is re-evaluating spending plans amid slowing Chinese growth, the Australian Financial Review reported, citing comments by Chairman Jacques Nasser to investors. China’s Premier Wen Jiabao this month announced an economic growth target of 7.5 percent for this year, down from an annual 8 percent over the past seven years. Steel output growth in China, the biggest producer, may slow to 4 percent this year, the China Iron and Steel Association said March 6. Housing starts in the U.S. fell in February from a three- year high, showing the recovery in the residential real estate market will take time to develop.

On Wednesday the dollar rose against most of its major counterparts as concern grew that risk-asset gains have outpaced prospects for economic growth, boosting appetite for the perceived safety of the greenback. The 17-nation euro reached the highest level in almost two weeks against the dollar earlier after Greece won parliamentary approval for a bailout and as Germany and Portugal sold bonds at auctions. The euro was supported after Greece’s Prime Minister Lucas Papademos won approval for a 130-billion-euro ($172 billion) aid package. U.S. Treasury Secretary Timothy F. Geithner said today that “Greece is making progress toward sustainability.”

On Thursday the yen rose by more than one percent against all of its 16 most-traded peers as weaker factory data in Europe and China spurred concern economic growth was slowing, boosting safety demand. The yen surged by the most in three weeks against the dollar after Japan reported an unexpected trade surplus for last month, adding to evidence of a rebound in the economy.

On Friday the euro climbed against the yen after falling for three days, prompting bets the move lower was overdone. The euro rose for the first time in four days against the dollar after dropping to the lowest in almost a week yesterday amid a decrease in a gauge of euro-area industry based on a survey of purchasing managers. The yen weakened earlier after versus the dollar Bank of Japan Governor Masaaki Shirakawa said the central bank and the government share the same view on the economy, increasing concern the central bank may increase stimulus measures to boost the nation’s economy, which would debase the currency. Finance Minister Jun Azumi said the Bank of Japan established an inflation target of 1 percent on Feb. 14, replacing earlier wording that the central bank had an “understanding” of where consumer prices should go. It also said it would add 10 trillion yen ($119 billion) yen of stimulus to the economy.

Resistance 3: Y84.10/20 (area of Mar 15-21 low)

Resistance 2: Y83.50 (Mar 22 high)

Resistance 1: Y82.95 (Mar 23 high)

The current price: Y82.72

Support 1: Y82.30 (Mar 22 low)

Support 2: Y81.95 (Mar 23 low)

Support 3: Y81.45 (Mar 9 low)

Resistance 3: Chf0.9180 (Mar 19-22 high)

Resistance 2: Chf0.9140 (Mar 23 high)

Resistance 1: Chf0.9115 (high of the American session on Mar 23)

The current price: Chf0.9088

Support 1: Chf0.9065 (Mar 23 low)

Support 2: Chf0.9010/20 (Feb 27 high, Mar 1 low)

Support 3: Chf0.8930/35 (area of Feb 24-29 lows)

Resistance 3 : $1.5975/90 (area of Feb 29 high and Mar 1 low)

Resistance 2 : $1.5905/20 (area of Mar 19-23 high)

Resistance 1 : $1.5885 (session high)

The current price: $1.5858

Support 1 : $1.5840 (support line from Mar 22)

Support 2 : $1.5820 (low of the American session on Mar 23)

Support 3 : $1.5770 (Mar 22 low)

Resistance 3 : $1.3335 (Mar 2 high)

Resistance 2 : $1.3300 (psychological level)

Resistance 1 : $1.3285 (session high)

The current price: $1.3256

Support 1 : $1.3255 (Mar 22 high)

Support 2 : $1.3220 (low of the American session on Mar 23)

Support 3 : $1.3190 (Mar 23 low)

08:00 Germany IFO - Business Climate March 109.6 109.7

08:00 Germany IFO - Current Assessment March 117.5 117.0

08:00 Germany IFO - Expectations March 102.3 102.6

12:00 U.S. Fed Chairman Bernanke Speaks 0

14:00 U.S. Pending Home Sales (MoM) February +2.0% +1.0%

16:00 Eurozone ECB President Mario Draghi Speaks 0

17:00 Canada BOC Gov Carney Speaks 0

23:01 United Kingdom BOE Quarterly Bulletin Quarter I