Filed Under:
Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY
FXstreet.com (San Francisco) - The US Dollar traded lower across the board on Tuesday as the EUR/USD tested the 1.3800 area, the GBP/USD traded at highs since August 2011, the USD/JPY declined below the 103.00 level and the AUD/USD jumped above 0.9150.

The Dollar weakness was fueled by the rise in commodities as the Gold jumped for third day amid a huge buy order, and it extended its advance as high as 1,266.70; in the same line, the oil barrel broke above the 97.95 resistance and climbed to close at 98.60.

The EUR/USD is currently trading at 1.3760 after peaking to 6-week high at 1.3795. The Euro performed its sixth winning day in a row against the US Dollar and it seems the upward tone prevails 'as the hourly chart shows 20 SMA grinding higher and offering dynamic support, currently around 1.3750, while indicators corrected overbought readings and head back north, bouncing from their midlines," FXstreet.com's chief analyst comments.

According to Bednarik, the EUR/USD has scope to reach 1.3830/40 area, "while dips are still seen as buying opportunities."

The GBP/USD advanced for third day with the Cable testing fresh maximums since August 2011 at 1.6465. The Sterling to Dollar exchange rate closed the day at 1.6445. The USD/JPY lost the 103.00 area with the pair closing at 102.80. Jamie Coleman from FXbeat commented that the EUR/JPY dip to 141.27 in early US trade, "led lower by a bearish technical reversal in USD/JPY."

Main headlines in the American session:

US: NFIB Business Optimism Index (Nov.) rose to 92.5

UK NIESR GDP +0.8% to end of nov vs +0.7% in 3 months to oct

US October Wholesale Inventories up to 1.4% vs 0.4% (September)

Volcker Rule pushed back to July 2015

ISM sees US growth continuing in 2014

JP Morgan giving Bitcoin a shot at respectability

Wall Street declines from highs and closes negative
comments powered by Disqus
Trading Center