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24 Dec 2014
Better than expected US GDP strengthens the Dollar – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team shares the performance of Euro, Yen, AUD, Pound and INR versus the Dollar strength seen after better than expected US Q3 GDP revision, noting that Euro’s bearish implications are becoming clearer for 2015.
Key Quotes
“Much better than expected US GDP revision boosted Dollar Index (90.06) to the highs of 90.16 levels last seen in early 2006.”
“Euro continues to make new lows near the fag end of the year and below important long term averages. The bearish implications for 2015 are becoming clearer. The next important supports are at 1.2150 and 1.2120.”
“Pound-Dollar's too fell to new longs and with an uncertain break from the range. 1.5550 and 1.5600 are the immediate resistances. We could see a retest of these resistances, and possibly move back into the range of 1.5600-1.5750.”
“Dollar-Yen drifted up on general Dollar bullishness. The resistances are at 121.10 (minor) and 121.50 (important). The immediate bias is bearish with a possible drop to 119.00 and 118.50, which are also the key supports. Long term trend, however, remains bullish.”
“Dollar-RUPEE is likely to move up to 63.50 again on the broad Dollar strength. However, the broad range expectations of 63.90 to 62.83 remains intact, and we do not expect a breakout ahead of long holidays.”
“Aussie-Dollar weakened on Dollar strength but the break down was half-hearted on account of low volumes. The trend support at 0.8080 should hold in short term.”
Key Quotes
“Much better than expected US GDP revision boosted Dollar Index (90.06) to the highs of 90.16 levels last seen in early 2006.”
“Euro continues to make new lows near the fag end of the year and below important long term averages. The bearish implications for 2015 are becoming clearer. The next important supports are at 1.2150 and 1.2120.”
“Pound-Dollar's too fell to new longs and with an uncertain break from the range. 1.5550 and 1.5600 are the immediate resistances. We could see a retest of these resistances, and possibly move back into the range of 1.5600-1.5750.”
“Dollar-Yen drifted up on general Dollar bullishness. The resistances are at 121.10 (minor) and 121.50 (important). The immediate bias is bearish with a possible drop to 119.00 and 118.50, which are also the key supports. Long term trend, however, remains bullish.”
“Dollar-RUPEE is likely to move up to 63.50 again on the broad Dollar strength. However, the broad range expectations of 63.90 to 62.83 remains intact, and we do not expect a breakout ahead of long holidays.”
“Aussie-Dollar weakened on Dollar strength but the break down was half-hearted on account of low volumes. The trend support at 0.8080 should hold in short term.”