Monday, October 22, 2012

Market Outlook

EUR/USD was trading down 0.02% at 1.3020, up from a session low of 1.3016, and off from a high of 1.3029.
The pair is likely to find support at 1.2952, the low of October 16 and resistance at 1.3077, Friday’s high.
USD/JPY was trading at 79.24, down 0.11% at time of writing.

The pair was likely to find support at 78.62, Wednesday’s low, and resistance at 79.45, Thursday’s high.
Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USDshedding 0.03% to hit 1.3019 and GBP/USD falling 0.06% to hit 1.5996.
GBP/USDhit 1.6177 on Wednesday, the pair’s highest since October 5; the pair subsequently consolidated at 1.6001 by close of trade on Friday, down 0.41% for the week.
Cable is likely to find near-term support at 1.5975, the low of October 10 and resistance at 1.6065, Friday’s high.

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