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Forex: EUR/USD buoyed along with Asian shares

By FXstreet.com,  July 30, 2012, 11:32:00 PM EDT

FXstreet.com (San Francisco) - The USD encountered some selling interest this afternoon in Asia, driven by strong Asian equities which enabled EUR/USD to touch a session high of 1.2288 from 1.2260.

At the time of writing, Japan 225 last trades at 8697.50, up 62.06 points or 0.72%. Australia's ASX 200 has gained 34.19 points, or 0.81% to 4279.90. Hang Sen 40 has rallied 204.60 points, or 1.04% to 19790.00.

The gains in regional equities come as investors look toward the results of the FOMC on Wednesday, and the ECB meeting on Thursday. Expectations are high that central banks will announce some sort of policy easing this week.

EUR/USD last trades at 1.2282. If the buying interest continues, the FXstreet.com Independent Analysis Team identifies resistance levels at 1.2300 and 1.2330, while support levels lie at 1.2210, 1.2180 and 1.2145.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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