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16 Dec 2014
FX Snapshot, RUB biggest mover – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team highlights the FX market movements, noting RUB to be the biggest mover, falling down 9.5% before gaining some of its losses.
Key Quotes
“The highlight of the day was the capitulation of Russian Ruble which was down about 9.5% closing at 64.85 (previous 58.05). It later recovered some losses as Central Bank hiked rates.”
“Euro has been resisted at 200MA at 1.2450 now on hourly charts for an entire weak now. Only ray of hope for bulls is that 100MA (1.2407, hourly) is holding for now. The breakout on either side should be sharp but the bias is for a break below. FOMC minutes would be a clear trigger for the breakout.”
“Pound-Dollar's traded at both upper and lower end of the range yesterday (1.5600-1.5750). The range has been sustained for a month now. Break out would most likely be on the downside.”
“Dollar-Yen is showing clear signs of top out in near term on multitude of factors. 117.20-117.50 is an important support zone, followed by 115.50 and 114.00. 119.00 is the resistance for now.”
“Aussie-Dollar took support at 0.8200 and is likely to break below 0.82 in short to medium term. The deteriorating fiscal situation in Australia and drop in mineral exports are likely to pressureAussie into 7-handles in 2015.”
Key Quotes
“The highlight of the day was the capitulation of Russian Ruble which was down about 9.5% closing at 64.85 (previous 58.05). It later recovered some losses as Central Bank hiked rates.”
“Euro has been resisted at 200MA at 1.2450 now on hourly charts for an entire weak now. Only ray of hope for bulls is that 100MA (1.2407, hourly) is holding for now. The breakout on either side should be sharp but the bias is for a break below. FOMC minutes would be a clear trigger for the breakout.”
“Pound-Dollar's traded at both upper and lower end of the range yesterday (1.5600-1.5750). The range has been sustained for a month now. Break out would most likely be on the downside.”
“Dollar-Yen is showing clear signs of top out in near term on multitude of factors. 117.20-117.50 is an important support zone, followed by 115.50 and 114.00. 119.00 is the resistance for now.”
“Aussie-Dollar took support at 0.8200 and is likely to break below 0.82 in short to medium term. The deteriorating fiscal situation in Australia and drop in mineral exports are likely to pressureAussie into 7-handles in 2015.”