USD steady in quiet trade
10-Yr: +16/32..2.196%.. USD-JPY: 83.08.. EUR-USD: 1.3334
The USD index's session was quiet Tuesday as trade was capped near 79.05 all session long.
EUR-USD is -20 pips at 1.3335 after earlier buying was unable to crack the resistance at 1.3400.
Traders have taken note of today's Bullish development as the pair's 50-Day Moving Average crossed over its 100-Day Moving Average.
Short-term support lies near 1.3300 while Key resistance stands near 1.3400.
German preliminary CPI and EuroZone M-3 money supply will cross the wires early tomorrow morning. GBP-USD is -5 pips at 1.5960 after failing just short of 1.6000.
Comments from George Osborne, Britain's Chancellor of the Exchequer, had little impact despite his suggestion that the Bank of England's asset purchase program will be increased if it is working.
British data due out Wednesday includes the current account balance and final GDP.
USD-CHF is +10 pips at .9035 as an uneventful session nears its close. A similar trade is playing out in EUR-CHF as it trades -5 pips at 1.2055.
USD-JPY is +25 pips at 83.10 after buyers stepped up on early selling that dropped the pair towards 82.50 support.
Close attention should be paid to the 83.50/84.00 level as a breakout would likely spark some fresh short covering.
AUD-USD is -55 pips at 1.0485 as trade struggled near 1.0550 resistance. Traders continue to watch the critical 1.0400 level as support is aided by both the 50- and 100-Day Moving Averages. The Reserve Bank of Australia Financial Stability Review will be released tonight.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.