USD may resume trend in Asia

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Published: Tue, 26 May 2009 02:00:00 +0200

USD may resume trend in Asia

FXstreet.com (Buenos Aires) - Major currencies ended with no change Monday as holidays in U.K. and the U.S. set a very low trading volume. Some rise in risk aversion due to North Korea nuclear test, gave dollar some air after past week free fall. But was Japanese yen the most harmed by such spike, as the currency lost ground in early trading. However, dollar continues bearish across the board, and would take little to see greenback resume the downside trend.

Dollar levels to watch against Euro are 1.4040 and 1.3950; against Gbp 1.5950 and 1.5860; against Swiss Franc 1.0880 and 1.0810; finally against Jpy, 95.20 and 94.40. Break outside ranges could trigger some momentum after past hours consolidation ranges.

By Fxstreet.com

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