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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Oct 10, 2013 11:00:00 PM

The markets are still being held captive by political machinations as US fiscal negotiations continue to drag on. EUR/USD - The ECB continues to maintain their dovish stance as the pair trades within recently defined ranges. Any resolution in the US could see a move lower to test supports at 1.3500 and then 1.3450/70. On the topside a clear break of 1.3607 would be needed to see a potential retest of the 1.37 level. USD/JPY - The Japanese unit was the weakest performing major currency yesterday. A rise in risk appetite could see dollar strength continue to manifest itself via this pair with a break of 98.65/70 opening the way for a retest of recent highs at 99.30. Near term support can be found in the 97.60/80 region

Ranges: {charts - WWM Flash Trader - 60 min}(click to enlarge)
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