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Sterling recovers moderately on Carney's comments

 

Bank of England’s Carney in a speech stated

The dollar reached a 6 year high against the yen and hit a 14-month peak against several currencies, on the absence of any important news, continuing from yesterday’s substantial gains. The dollar index rose 0.25% to 0.8449 and a break of 84.75 could take it to July 2010 levels. Bank of England’s Carney in a speech stated that the time to begin raising rates is getting closer and interest rates rises will be limited and gradual, giving a boost to gbp/usd to 1.6150 but sellers quickly re-appeared as the uncertainty over the Scottish referendum continues to weigh on the pound.
Technical Analysis
Currency Pair   EUR/USD GBP/USD EUR/GBP USD/JPY EUR/JPY EUR/CHF AUD/USD
Resistance 2 1.2965 1.6185 0.8075 107.25 138.00 1.2090 0.9345
Resistance 1 1.2935 1.6150 0.8035 107.00 137.10 1.2070 0.9300
Market   1.2885 1.6115 0.7995 106.15 136.80 1.2055 0.9280
Support 1 1.2855 1.6060 0.7975 105.95 136.60 1.2035 0.9250
Support 2 1.2790 1.6000 0.7935 105.40 136.00 1.2000 0.9230

 Daily Chart:
USDCAD
The pair is on an uptrend but strong resistance at 1.1000 capped the rally for the time being. A break and close above this area could accelerate momentum. 




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