US dollars recovered from the fall
inflicted by negative job data report of August bringing its levels
up in the basket of world currencies. Among the major forex currency
pairs, USD rose breaking lowest level against Great British Pound
(GBP), in comparison to Euros forex trading showed mixed results, and
USD strengthened in its pairing with Japanese Yen (JPY), Australian
dollar (AUD) and Indian Rupee (INR).
EUR/USD
At first sight, the pair neared almost
breaking its resistance level at 1.2900 but failed as USD gained
momentum again. The pair is recording a fall-down in forex trading in
short-term analysis which is likely to continue in the week ahead. If
the pair is able to break over 1.2900 level then a move away from
bears towards bulls might come in picture.
Trading level for the day are ranging
between 1.2864, 1.2833 and 1.2785 holding resistance level at 1.2943,
1.2991 and 1.3022 respectively marking the central point t 1.2912.
GBP/USD
Sterling is slipping on the tide of
Scotland's independence and with rising dollars the forex pair
GBP/USD broke its lowest support zone marked at 1.6103/00. GBP/USD
moved in a medium demanding area retaining its fall at 1.6080 level.
Forex traders feared outcome of independent Scotland, majority
expected a fall down in GBP and therefore sold off their British
holdings and currency faster than the glimpse of Scotland's
separation from United Kingdom.
Tuesday trading levels for the forex
pair are moving between 1.6057, 1.6010 and 1.5921 facing resistance
at 1.6193, 1.6282 and 1.6329 respectively. Benchmarked point for the
day marking the pivotal circle is hovering at 1.6146.
AUD/USD
Aussie with surge in US dollars moved a
tag below coming to 0.9273 correcting its previous 0.9280 level.
Similar trading level is citing today with a support point marked
between 0.9240 and 0.9260.
USD/JPY
US dollar began their star performances
from Japan as it broke prior levels around 104 surging to 106.29 on
Tuesday. The pair is making highlights as it marks the highest level
reached by the currency in 6 years, i.e. last records in October
2008.
The level of trading marked by forex
researchers is nearing 105.69 stability point with low bells at
105.28, 104.52 and 104.11 with high pointers set at 106.45, 106.86
and 107.62 respectively. USD/JPY is running the bulls in forex trade
and is likely to continue the trend for the coming week.
USD/INR
Indian Rupee held up its levels around
60.44/45 lowered from its previous close at 60.29/30 as US dollar
gains 0.27 percent in the basket of major currency trading. Forex
pairing is citing dealing between 60.20 and 60.60 in a narrow range
bounds for today. Most Asian currencies are likely to follow the same
trend as they opened losing on similar levels.
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