The EUR/USD pair continued to struggle in today’s trading after European Central Bank (ECB) President Mario Draghi’s speech yesterday. In there, Mr Draghi said a few things about the current risks in the European economy, a statement that was largely seen as dovish. This then dragged the EUR/USD pair back to the sub-1.3900 levels after peaking at around 1.3965 yesterday. It bottomed out at 1.3858, before hovering around 1.3860-1.3880 areas until today’s Asian session. It is currently trading at 1.3857, with initial resistance seen at 1.3918, followed by 1.3953. Meanwhile, initial support is at 1.3794, followed by 1.3760.2
As for the USD/JPY, the pair remained largely flat in today’s trading session and has hovered between the 101.50 and 102.00 areas. The pair took a heavy beating late in yesterday’s session after mounting fears of clashes in Ukraine. This pretty much erased most of the gains that the pair had at the beginning of the week. It is currently trading at 101.64, with initial resistance seen at 102.36, followed by 102.62. Meanwhile, initial support is at 101.02, followed by 100.76.
The AUD/USD pair was also affected by risk aversion that pervaded late in yesterday’s trading session. It managed to peak a little above the 0.9100 area during the European session after the release of better-than-expected Australian jobs data, but quickly slid again after news from Ukraine came out. It traded between the 0.9020-0.9040 levels during today’s Asian session, but the opening of the London session led it to a more sombre level. It is currently trading at 0.9010, with initial resistance seen at 0.9128, followed by 0.9151. Meanwhile, initial support is at 0.9008, followed by 0.8986.
Create a FREE account