USD/KRW: sideways gait, Kospi flat
orning price action was little changed from yest, with USD/KRW perched above 1090.0 mark, narrow 1091.2-1094.5 range tested so far. Kospi pared opening losses to hover in modest black +0.2% at last look, but looks poised for choppiness given lack of clear positive drivers to drive on. EUR meanwhile seen attempting to claw back gains, which could see AXJ bears take a breather, though USD/KRW retreats below initial targets of 1090 will be short-lived on still-moderately risk-off mood. With much of Asia closed today for Vesak Day, moves are likely to be lacklustre, range bound for much part. RR
Forex: USD/JPY pressing against 81.00 area
The pair has kicked off the Tokyo session on a bullish tone, trimming yesterday's small losses to just peak at 80.98. The cross however is still in range, outlook has not changed, trading between 80.10 and 81.40 since mid past week.
"Hourly indicators have a slightly bearish tone with price losing momentum capped below 20 SMA, while 4 hours chart shows indicators still limited below their midlines and heading south" said Valeria Bednarik, Chief Analyst at FXstreet.com.
"Moving sideways, pair needs a clear recovery above 81.50 area to extend the upside, while below 80.00 the bearish acceleration may send price near 79.00" she added. Support levels: 80.45 80.10 79.75, Resistance levels: 80.80 81.10 81.50,
EUR/USD recovers from 1.4047, resistance at 1.4245
FXstreet.com (California) - The Euro recovery from yesterday’s low of 1.4047 has been capped at 1.4245, and the pair has pulled back aggressively, on the back of a dollar recovery. The EUR/USD is currently trading in range between 1.4174 and 1.4141, quoted at the time of writing at 1.4154, at the same price of the Asian open.
“Euro managed to bounce as high as 1.4245 past American session, helped by a strong recovery in stocks and commodities that did not last that faded later on the day, ending the day finally lower,” observes Valeria Bednarik, Chief Analyst at FXstreet.com. “Dollar recovered some ground closing the day positive against commodity currencies, and just above the strong Fibonacci level around 1.4145.”
GBP/JPY up during the Asian session
The British Pound was higher against the Japanese Yen on Tuesday. GBP/JPY was trading at 131.21, up 0.31% at time of writing.
The pair was likely to find support at 130.30, Friday’s low, and resistance at 133.18, Thursday’s high. Meanwhile, the British Pound was up against the U.S. Dollar and the Euro, with GBP/USD gaining 0.12% to hit 1.6211 and EUR\/GBP falling 0.05% to hit 0.8740. Source www.fxstreet.com/ For the latest updates PRESS CTR + D or visit Stock Market news Today
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