Forex: EUR/USD eyes 1.3430 on Weidmann comments

It was about time. BUBA’s J.Weidmann has taken M.Draghi’s relay and is ‘verbally’ pushing the cross to the proximities of 1.3430 in the European evening. J.Weidmann commented that the euro would not be overvalued at current levels, and he emphasized than a lower exchange rate could derail in higher inflation.

At the moment, the cross is up 0.39% at 1.3420 facing the next resistance at 1.3426 (MA21d) ahead of 1.3430 (high Feb.8) and finally 1.3462 (low Feb.5).
On the downside, a dip beyond 1.3326 (hourly low Feb.11) would aim for 1.3265 (low Jan.23) en route to 1.3216 (Lower Bollinger).

Feb 11, 2013

Forex Flash: 10-year US treasuries hold bias for breakout – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “The 10-year Treasury market remained in a range between the 250-day MA support and 132-00 resistance, as the 10/3/3/3 slow stochastic formed a positive crossover in the oversold region. The 250-day MA has proved to be a good support, as the price started the make higher highs over the last few sessions.”

Forex Flash: NZD/USD targets 0.8700 by year-end – BNZ

Whether or not market participants chose to believe them, last week’s dismal HLFS employment figures were successful in knocking some of the heat out of the NZD – the NZD/USD ended the week around a cent lower than where it began.