FXstreet.com (Córdoba) - Wall Street posted big gains on Tuesday with the Dow Jones rising 1.37% and the Nasdaq 1.71%. Gold holds at record high above $1040 a/oz. Dollar is steady across the board and despite a minor correction during the American session is down for the day.
EUR/USD trades at 1.4715/18, 0.45% above today's opening price. The pair found support at 1.4705. If it manages to rise above 1.4730, the Euro could gain momentum sending the pair to intra-day highs at 1.4760.
GBP/USD is moving in ranges between 1.5900 and 1.5940. The pair is only a few pips below the opening price. Cable is among the worst performers of the day across the board.
USD/JPY is also moving in ranges, with support at intra-day low at 88.60 and resistance at 88.90. The Yen is consolidating gains across the board, with the exception of the Australian Dollar. The Aussie continued to rise during the American session across the board.
The ecPulse.com analysis team affirms: So far, the major pairs are narrow trading due to rough technical movements after that the dollar weakened deeply throughout the currencies market in the previous sessions as a new global reserve currency is being discussed between major economies and since the central bank of Australia has unpredictably raised its interest rates on signs of an economic recovery.