Dollar weaker as unemployment rose to 9.8%

Quote of the day: It requires wisdom to understand wisdom: the music is nothing if the audience is deaf. – Walter Lippman

EURUSD

Trading strategy: standing aside

The euro pulled back from its Friday highs but still maintains a bid tone against the dollar which is softer across the board as unemployment rate rose to 9.8%. Fed’s Chairman Bernanke appeared on CBS’s “60 minutes” last night to discuss the deficit, unemployment and defend the $600 billion U.S. Treasury Bill purchase. Here is an excerpt from the interview via WSJ. Current euro recovery may continue, following commodities which are climbing higher since Friday. Technically, short-term sentiment is still bearish as long as 1.37 is not under assault. First resistance point lies around 1.3440 and a sustained break should favor further gains to 1.37. Current exchange rate is 1.3349 @06:51 GMT

Support: 1.3300, 1.3250/75, 1.3200 and 1.3100
Resistance: 1.3400, 1.3440/50 and 1.3500
Market sentiment: long term – mixed, medium term – bullish, short term – bearish, intraday – mixed

AUDUSD

Gold

Have a nice day

More in Analysis and forecasts »
Post tags: AUDUSD, EURUSD, Gold