Forex: EUR/USD breaks above 1.3075 and focus on 1.3100

FXstreet.com (San Francisco) - After rising around 70 pips in the last hour from 1.3025, the EUR/USD has broken above the 1.3070/75 resistance area with the pair reaching fresh highest since Mach 15 around 1.3095.

With 0.60% gains on the day, the EUR/USD is slightly bullish according to the FXstreet.com's trend index. Indicators such as MACD, CCI and Momentum are pointing bullish while the Stochastic is neutral in the 1-hour chart.

Having set a higher high today, the EUR/USD maintains a bullish tone, according to Valeria Bednarik, chief analyst at FXstreet.com. "The upside remains open towards key 1.3310 area, 38.2% retracement of the latest daily fall", the analyst commented.

Apr 9, 2013

Forex Flash: RBNZ action foments rise in swaps – BNZ

A bit of hawkish sentiment from RBNZ Deputy Governor Spencer on the NZ housing market recently produced a brief flurry of excitement in local markets. The NZ swap yields nudged higher into the close (2-year yield from 2.83% to 2.87%), helping to set the NZD/AUD on a path higher. According to the BNZ Research Team, “At around 0.8130, the cross is now creeping into the top end of our model’s 0.7950-0.8150 short-term ‘fair-value’ range.”

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Apr 9, 2013

Forex Flash: US economic concerns create headwinds for 10-year treasuries – RBS

According to the RBS Research Team, “We are not bearish Treasuries because we still see evidence of a short base and because of lingering concerns about a probable step-down in Q2 growth/consumption and employment (versus Q1) due to sequestration, Europe, and our belief that the >3% real consumer spending pace in Q1 is unsustainable given real income growth. We expect a correction from a deep overbought condition to give us better entry levels in the coming few weeks.”

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