FXstreet.com (London) - Greenback saw strong gains across the board today. The rise of the Dollar has been down to a continued string of positive news from many angles. We have seen banks looking to repay TARP funds, major acquistions, postive jobs and consumption news. Early in this Asian session the dollar has consolidated against is major trading partners as investors look to the results of a FED policy meeting, due to be released later today.
The major pairs at the time of writing currently look like this: EUR/USD 1.4536/40 (flat), Swissy 1.0408/12 (+0.07%), Cable 1.6242/44 (-0.14%) and USD/JPY 89.56/58 (-0.04%).
Swissy has traded largely range bound between 1.0400 and 1.0410. The pair, up 7 pips since the open, will be looking for cue when Europe opens in several hours. With the recent downgrading of Greece markets are still weary about the Eurozone, despite Dubia's recent bailout.
Valeria Bednarik, collaborator at FXstreet.com, gives us a technical insight to trading on the pair: Pair managed to hold past days' gains and entered the Asian session above the 1.0400 level, with hourly indicators slightly bearish yet mostly pointing for a downside correction rather than a strong movement as 20 SMA remains bullish under current price. 4 hours charts show pair overbought supporting the view.
She sees S1 and S2 at 1.0380 and 1.0340, and for resistance, R1 and R2, 1.0440 and 1.0490.