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Forex pairs in this Article » EUR/USD
FXstreet.com (San Francisco) - The US Dollar traded under pressure on Monday as investors watch astonished the lack of resolution in the US government shutdown and the impending debt limit deadline. The battle was fierce in the USD/JPY has bears pushed the pair below the 97.00 area and below the 97.80 key support.

The USD/JPY is "technically bearish according to the hourly chart," comments FXstreet.com chief analyst Valeria Bednari. "The immediate support stands around 96.60, 200 DMA: a break below this last should signal a stronger bearish continuation, eying then 95.80 August monthly low."

According to ForexLive.com Analyst Adam Buttom, the "the bears tried to break through support at 96.80, where at least $6 billion in bids were rumored."

The EUR/USD traded overall sideways in between 1.3560 and 1.3580 with brief attempts to price at 1.3540 (200 hours MA) on the downside and 1.3590 (intra-day highs). The pair remains in a pretty neutral technical mood. The GBP/USD performed higher and recovered almost half of the Friday losses. The Sterling to Dollar exchange rate is now at 1.6090 with the pair showing the upward momentum remains.

Main headlines in the American session:

Canada: Building Permits fell 21.2% MoM in August

Greece expected to get out of recession next year

German IFO see euro zone growth at 0.1% Q3 and 0.3% Q4 2013

Rumour of 6 month debt deal on the jungle drums

Obama continues to call for a clean vote on ending shutdown

Kohn Fed rumor isn’t even a rumor

US Stocks sink as US shutdown continues
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