Daily maximum: 1.3858
Daily minimum: 1.3553
The common European currency has been trading actively against the greenback, reacting on the resignation of the Italian Prime Minister Silvio Berlusconi: after the pair breached the market mean at 1.3810 in the early trading, the pair committed a downward correction, reaching a fresh daily low at 1.3581.
While none of the resistance (1.3872; 1.3920; 1.4043) levels has been pierced, all support levels at 1.3750, 1.3676 and 1.3553 have been breached on new worries over the Eurozone prospects. The daily trading stance is neutral.
EUR/JPY
Daily maximum: 107.56
Daily minimum: 105.54
Although EUR/JPY moved higher during early trading on Wednesday and crossed the daily mean at 107.45, the pair plummeted to a new daily low at 105.54 on another worries of the sustainability of present Italian debt burden.
All resistance (107.67/92; 108.45) remained intact today, whereas all support (107.14; 106.86/33) lines have been successfully tested. The daily trading signals point at a flat trend.
GBP/USD
Daily maximum: 1.6119
Daily minimum: 1.5919
The British national currency advanced higher in the early trading versus its American dollar, though after the release of trade balance (-9.8B versus estimated -8.6B) the pair commenced a bearish correction, breaching the market mean at 1.6085.
Resistance levels at 1.6139, 1.6181 and 1.6275 remained intact today, at the same time, a breach of support 1 at 1.6045 paves the way for the next support levels at 1.5993 and 1.5899 respectively. The daily market stance is bullish.
USD/JPY
Daily maximum: 77.75
Daily minimum: 77.55
The Japanese yen strengthened today on continuing uncertainty over the EU financial woes, moving the pair lower to 77.55. The market mean at 77.78 was not approached.
None of the support (77.50/30; 76.81) and resistance (77.99; 78.28/76) levels was hit today. The daily market stance is bearish.
USD/CHF
Daily maximum: 0.9058
Daily minimum: 0.8923
As more investors perceive the American dollar as the only safe-haven today on more uncertainty over the EU debt problems, the pair moved higher after the market mean at 0.8970 has been broken through.
While all support (0.8890; 0.8834; 0.8689) levels remained untapped today, pierce of resistance 1 at 0.9035 exposes the remaining resistance levels at 0.9123 and 0.9268 for today. The daily trading signals point at a strong bullish momentum.
Daily highs and lows are calculated till 16:00 GMT.
Read the morning report here.