Filed Under:
Forex pairs in this Article » EUR/USD
FXstreet.com (San Francisco) - The EUR/USD performed pretty similar to stocks on Monday as the pair popped in the US opening to the highest level since November 6 at 1.3540 but it moved mostly down in the rest of the session.

Two thinks capped the EUR/USD on Monday: Fed's Dudley hawkish comments on employment and growth that fueled taper rumors; and stocks collapsed amid Carl Icahn comments that he is "very cautious on equities" fueled the risk aversion environment.

On this framework, the EUR/USD traded lower on the mid-session but the pair held above the 1.3500 area. As FXstreet.com chief analyst commented in a recent report, "markets continue dancing at tapering pace, selling the greenback when changes diminish, and running back to it when the moment seems closer."

The EUR/USD closed the day around 1.3505, 0.10% positive. Next resistance lies at 1.3548 (high Nov.6) followed by 1.3589 (high Nov.1) and finally 1.3696 (low Oct.30). On the flip side, a breach of 1.3484 (daily cloud top) would target 1.3465 (low Nov.18) en route to 1.3458 (MA10d).

The GBP/USD performed its first negative day in the last four. The pair was rejected at 1.6145 and it continues inside the last weeks range. The USD/JPY wasn't able to break above 100.40 and it retraced to close at 100.00.

The AUD/USD cemented a floor above the 0.9300 area with the Aussie testing the 0.9400 earlier in the day and then closing around 0.9375.

Main headlines in the American session:

Canada: Foreign Portfolio Investment in Canadian securities (Sep.) rose to $8.36 B

US: Net Long-Term TIC Flows rise to $25.5B in September

US: NAHB Housing Market Index unchanged in November

Fed's Dudley: I'm getting more hopeful on the US economy

Wall Street off all-time highs and closes mostly lower
comments powered by Disqus
Trading Center