Forex: AUD/USD in session lows, around 1.0250

The Aussie dollar is facing renewed selling pressure ahead of the European open on Tuesday, dropping to session lows in the region of 1.0240/50

The dovish speech by RBA Assistant Governor Debelle has collaborated in the downside, as he signalled that there are several policy options for the RBA to deal with the strong AUD, including rate cuts.

At the moment, the cross is down 0.09% at 1.0248 with the next support at 1.0220 (Lower Bollinger) followed by 1.0203 (low Oct.15) and finally 1.0175 (low Oct.9).
On the upside, a breakout of 1.0314 (MA10d) would clear the way to 1.0329 (MA200d) en route to 1.0341 (high Feb.22).

Feb 26, 2013

Forex: USD/JPY at upper 91 area

The USD/JPY went for a big drop yesterday, failing to hold at 94.00 and tumbling more than 300 pips to 90.91 low. A retracement to 92.75 followed but didn't last long, as the Asian session brought the pair back down. At the moment of writing, the market seems tempted at trading at 91.50/92.00 range.

Forex Flash: EUR in focus after Italian stalemate – UBS

Counting seems to have concluded in Italy's general election, however a victor has yet to be formally declared. Nevertheless the contours of the new political landscape are plain to see. Bersani seems to have won control of the lower house taking 29.54% of the vote, narrowly beating Berlusconi into second place with 29.18% of the vote.