Euro consolidates recent sharp falls.
November 8, 2012 Leave a comment
Euro/USD: After the volatile market action experienced yesterday prices settled into a bit of a consolidatory range today with weakness uncovering good support at 1.2717 and bounces being capped by resistance around the 1.2780 zone. This choppy sideways session finally closed in the 1.2748 region.
GBP/USD: A generally flat session with prices generally ending little changed after a brief period of activity during the middle part of the day. The GBP fell away late morning before stimulating fresh buying around 1.5930 from where values recouped these losses quickly to post a high for the day at 1.6005 before finally closing at 1.5982.
Euro/JPY: The Euro eased slightly during the course of the day but in generally quiet conditions and after early rally attempts were restricted by resistance at 10220 values slipped away to challenge 10145 before finally closing at 10155.
GBP/Euro: The GBP continued its recovery today and after early weakness was cushioned by support in the 1.2506 area the market rallied during the afternoon to test the 1.2563 zone where profit taking then trimmed gains. The European session finally closed around 1.2542.