Forex: Dollar mixed pointing for more gains

By @ibtimes on

FXstreet.com (Buenos Aires) - Dollar closed he day mixed against major rivals, mostly gaining ground on fears about economic recovery. With Wall Street down, local shares are expected to fall also, thus limited mostly a consolidative day; watch Nikkei 225 key 10.000 points support level, as under that, risk aversion could gain strength and be reflected across the board. Euro started the day under 1.4600 level, 38.2% retracement of 1.4190/1.4842, with the 50% of that rally around 1.4510, next key support level to watch. Under that zone, pair could reach key 1.4450 static area, also close to the 61.8% of the mentioned rally.

GBP managed to close the day to the upside, yet movement remains mostly corrective after almost 700 pips straight fall in 4 days. As long as under 1.6060, bearish trend remain intact; corrections could even extend to the 1.6110 area, but price should retreat strongly from that zone, to consider bearish trend still healthy.

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