- EUR - German Ifo Business Climate (09:00)
- GBP - Revised GDP q/q (09:30)
- USD - Core Durable Goods Orders m/m (13:30)
- USD - Unemployment Claims (13:30)
- USD - New Home Sales (15:00)
The pair recovered some ground on Wednesday, after a combination of worries of contagion from the Irish debt crisis and heightened tensions in the Korean Peninsula sent the euro plummeting. According to some analysts, the pair has reached an area of support at around 1.3360, which is the 38.2% Fibonacci retracement of the range between 1.1876 in June and the recent high at 1.4283.
Support/Resistance: 1.3362/1.3433
GBPUSD
The cable also took a beating as risk aversion spread through the markets with investors seeking safe havens like the dollar, bonds and gold. The final outcome of the Irish issue could have a fundamentally significant impact on the pound, as UK banks have an estimated exposure of roughly $220 billion on Ireland.
Support/Resistance: 1.5767/1.5878
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