FXstreet (Barcelona) -Dollar end higher across the board Monday, as risk aversion renewed needs of fly to safety. Stocks tumbled in American session with Dow Jones Industrial Average losing almost a 2.2%, close to an 11-year low. Uncertain about U.S. banks also boosted investor's fears, keeping gold, the other preferred save haven these days, close to U$ 1000 an ounce.
Euro regains its weaker currency condition after ECB president Jean Claude Trichet warned that the euro zone's financial system is facing challenging times, as financial markets and the real economy are dragged in a downward spiral.
EUR /USD - Clear break under 1.2700, send the pair close to first support for today, around 1.2660. Daily and 4 hours charts are clearly bearish, so a continuation under that level could send the pair to next supports at 1.2629, 1.2580 zone and finally the 3-month low at 1.3513. Above 1.2725 corrections could extend to 1.2758, 1.2800/10 and above 1.2846 and 1.2900 zone.
GBP/USD - Attempting to break lower, the pair is fighting the 200 4hours EMA also a 38.2% of the last up leg in 4 hours charts at 1.4469. Intraday supports will be located at 1.4410, 1.4386, 1.4334 and 1.4264. Above 1.4490, resistances will be at 1.4520, 1.4578. 1.4610 and 1.4660 zone.
USD /JPY -The pair reached the 94.94 before starting a correction that at the moment holds above the 94.10 level. Bullish pressure remains intact and resistances are located at 94.63, 94.94 and above, 95.20 zone. Under 94.10 consider supports at 93.50/60 zone, 93.20 and 92.56.