EUR/GBP eases, Asian stockmarkets thin

By IBTimes Staff Reporter | December 07 2009 11:42 PM

FXstreet.com (London) - EUR/GBP opened Asian session at 0.9011 before ascending without correction up to the day high of 0.9027 in early Asian trading. The pair then stayed tightly rangebound, gently drifting to the downside to currently trade at 0.9017.

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Primary Support can be taken as the open, 0.9011 and after that 0.8989 (Dec 4 Low). For the resistance we see primary at 0.9035, and in the case of aggressive breakout 0.9110 was a strong resistance level on 3rd Dec, after being tested several times on the upside without breach and is our secondary resistance level.

In Asian stockmarkets, the Nikkei was down (-0.38%) on thin trading as we head deeper into December and stockmarkets begin to dampen down. The stimulus plan did not cause any sustained rally in Asian markets.

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