Forex: GBP/USD spiked to 1.5170

FXstreet.com (Barcelona) - The sterling attempted to follow through 1.5170 after Nationwide Housing Prices came in flat on a monthly basis in March and advanced 0.8% YoY, both prints below the median at 0.2% and 0.9%, respectively.

Second –tier docket in the UK today would leave the pound at the mercy of the events in Cyprus, as the BoE Credit Conditions Survey and the Index of Services are due later.

GBP/USD is now advancing 0.16% at 1.5152 with the next resistance at 1.5207 (high Mar.26) followed by 1.5280 (high Mar.25) and finally the psychological mark of 1.5300
On the flip side, a breakdown of 1.5090 (low Mar.21) would expose 1.5080 (MA21d) and then 1.5026 (low Mar.20).

Mar 28, 2013

Forex Flash: EUR/USD on course for 1.2679/61

More weakness in the chart followed its recent break below its 200 day ma and the EUR/USD remains on course for 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low). “We would allow this to hold the initial test and allow for some profit taking here. The market remains directly offered intraday below 1.3003/50”, wrote analyst Karen Jones, pointing to longer term target at 1.2400 and then 1.2042, the 2012 low. “Above 1.3050 would initiate a deeper retracement to 1.3100/80 prior to another leg lower”, added the Commerzbank analyst.

Forex: USD/JPY finds support at 94.00

Another walk by the 94.00 handle was seen today, during the Asian session, before bouncing to 94.15/25 area. The USD/JPY still trades lower on the day after the drop from 94.45 area on an unflavored speech from BoJ Governor Kuroda before the upper house of the Japanese parliament today and Japan’s worse annualized retail trade than expected (-2.3% vs -1.8% consensus), while monthly data rose 1.3% (consensus of 0.5%).