Market review for 16.04.12: The traders tested today the strength of level of 1.20 of EUR / CHF pair.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe Tuesday, 17 Apr 2012 Daily review for 16.04, 2012   The traders tested today the strength of level of 1.20 of EUR / CHF pair.     Asian and European trading sessions:   Euro: Today's Euro's trading dynamics were depended on the results of auctions of the Spanish and German governments bonds. Against the background of rising concerns of possible further spread of the debt crisis in Europe, with the center in Spain, the 10-year Spanish government bonds' yield exceeded 6.15% for the first time since December 2011.  The EUR / USD pair traded lower at the Asian trading session continuing Friday's decline. At the European session the couple showed a low below the level of $ 1.3000, its monthly low against the dollar in spite of decline of German bonds yield that reached a new record low of 1.632%.The information that provided some support for the Euro today was last Saturday's news on China's decision on extension the trading range for the Yuan against the U.S. dollar. The purpose of this action was to help the Chinese's economy to accelerate its modernization, which is a necessary step towards the internationalization of the Yuan. The EUR / USD pair after recording its daily low at $ 1.2995 pulled back to the region of $ 1.3085.     Swiss Franc: The traders tested today the strength of level of 1.20 of EUR / CHF pair, which was designated by the Swiss National Bank as for limitation the growth of the Swiss currency. The demand for the safe haven currencies like Swiss Franc increased today on the backdrop of negative situation on the market due to the worries of a continuation of the debt crisis in Europe.     Australian dollar: On the background of falling Asian stock markets the Australian dollar continued its two-day down trend falling against its major competitors.     American trading session:   US Dollar: The dollar fell against major currencies on the American trading session. The pressure on the currency had a Friday's report of University of Michigan which presented that the index of consumer sentiment in the U.S. in April unexpectedly fell to 75.7 points from 76.2 points in March versus the analysts' expectation of growth to 76.5 points. In addition, manufacturing activity in the New York region slowed to 5-month low, due to a sharp slowdown in sales (6.56 vs. prev. 18) and reducing the number of outstanding orders. The decision of China of widening  the trading range for the Yuan against the U.S. dollar 0.5% to 1% with respect to exchange rate which was previously set by the regulator for increasing flexibility of RMB exchange rate pressured the U.S. dollar trading dynamics.   Oil: The oil futures fell on the background of meeting of the six international mediators, where they agreed a new round of negotiations with Tehran about Iran's nuclear program scheduling it on May 23. The WTI's May futures dropped to 101.79 dollars per barrel on the NYMEX.     Gold: May futures on the COMEX gold fell today to $ 1641.2 per troy ounce on the weak trading volume, the daily average of which was only 61 percent compared with the daily volume in March.         ___________________________________________________________________    TECHNICAL ANALYSIS  for 17.04, 2012   EURUSD The pair has drawn Double Top. If the pair breaks the figure's neckline 1.30277 the pair will decline first to 1.28630. Resistance:  1.31674, 1.33143, 1.34882 Support:  1.30277, 1.28630, 1.26897 GBPUSD The pair is trading below Moving Average (500). If the pair stays below 1.58543 the pair will decline to 1.56722. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair has reached 0.92026 and rolling back to 0.91079. Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair has reached support level at 80.438. Moving Average (100) supports pair at this level. If the pair breaks 80.438 the pair will decline to 79.707. Resistance: 81.399, 82.219, 83.065 Support:  80.438, 79.707, 79.070 AUDUSD The pair is aiming to the Moving Average (500) at 1.02558. Resistance:  1.03535, 1.04407, 1.05332 Support: 1.02558, 1.01744, 1.00907     Useful Links Discuss currency news with other traders in FX2Day forum: https://fx2day.net/forum/mvnforum/index Download free demo platform: https://forex-metal.com/home/download Ready to open a real account to start trading? You can do it here: https://forex-metal.com/accounts/new Did you know that you can earn commission simply for referring a friend to us? There are 3 commission options you can choose from. To learn more please visit our Introducing Brokers page: https://forex-metal.com/broker_inquiries/new Watch our new commercial at YouTube: http://www.youtube.com/watch?v=o0fQEydv-3M Open Account |  Economic Calendar |  PIP Value Calculator |  Forex for Beginners   Forex Metal T: 1-866-464-0944 F: 1-800-689-8298 E: info@forex-metal.com You are receiving this e-mail because you have subscribed to free daily FX news via Forex-Metal.com website. 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