Forex: majors ready to extend rallies in Asia

By @ibtimes on

FXstreet.com (Buenos Aires) - Dollar enters the Asian session mixed across the board, up against Pound and Yen, yet down against Swissy and Euro, that gave up some gains before U.S. close after hitting 9-month high against greenback but still remains higher on the day as risk appetite continued to drive markets. With Wall Street closing near the highest levels of the year, Asian stocks market are expected also to rose, also supported by gold that holds the $ 1000/oz.

EUR/USD consolidating close to Monday's high seems ready to extend the rally to the key 1.4720 level, past December high, while GBP/USD come under pressure and quotes around 1.6600; needs to clearly move either under 1.6520 or above 1.6660 to define next days trend. USD/JPY, now at 90.83, needs to clear the 91.40 level to extend the upside correction, while under 90.20 low, expect the pair to extend the fall close to the 89.10 area.

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