Published: Fri, 03 Jul 2009 02:02:00 +0200

Euro and Gbp accelerating fall

FXstreet.com (Buenos Aires) - With the first Asian hour, European currencies finally break under supports zones, triggering a 50/70 pips rally that send Euro to the lows 1.3900 while Gbp continues hovering around the 1.6330 zone. Market players seem to just be waiting for the Nikkei opening, that is expect to fall accelerating dollar and yen gains, after Wall Street nearly 3% lost early in America. Oil and gold also fell heavily early Thursday, with gold around 928/oz. and oil at $ 66.50 a barrel.

Supports for Euro lie at 1.3920, 1.3880 and 1.3810 zone, while resistance are located at 1.3990 1.4040 and finally 1.4080. For Gbp, supports come at 1.6320, 1.6255 and 1.6200, base of past weeks range. Resistances on the other hand are at 1.6380 1.6420 and 1.6490 zone.

By Fxstreet.com

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