Daily Afternoon Report & Daily Technical Levels 03/07/2015

Daily Afternoon Report 03.07.2015

The U.S. dollar rose against its Canadian counterpart on Friday, re-approaching a two-and-a-half-month peak, as concerns over a potential Greek exit from the eurozone continued to dampen market sentiment and as the drop in crude oil prices weighed on the Canadian currency. Trading volumes were expected to remain thin with U.S. markets closed for a national holiday USD/CAD hit 1.2600 during early U.S. trade, the session high; the pair subsequently consolidated at 1.2594, gaining 0.43%. The pair was likely to find support at 1.2475, the low of July 1, and resistance at 1.2633, Thursday’s high. Markets were jittery after a last-minute deal between Greece and the eurozone were quashed on Wednesday when Greek Prime Minister Alexis Tsipras urged voters to reject the terms of an international bailout deal. Greek voters are due to decide on Sunday whether to accept terms proposed by the institutions overseeing the country’s now-expired bailout, the European Central Bank, the International Monetary Fund, and the European Commission or reject them. Greece became the first developed country to default on the IMF after its second bailout program expired late Tuesday. Meanwhile, the commodity-linked Canadian dollar was also hit by the drop in crude oil prices, which reached fresh two-months lows of $56.45 on Friday. The loonie was also lower against the euro, with EUR/CAD advancing 0.59% to 1.3981. Earlier in the day, official data showed that eurozone retail sales rose 0.2% in May, beating expectations for a 0.1% uptick, after a 0.7% gain the previous month. Year-on-year, retail sales increased by 2.4% in May, more than the expected 2.3% rise, after a 2.2% gain in April.

 

03.07.2015 – 16:35 GMT+3

Daily Technical Levels

EUR/USD

GBP/USD

USD/JPY

AUD/USD

USD/CAD

USD/CHF

R3:

1,1172

1,5682

123,57

0,7588

1,2670

0,9491

R2:

1,1137

1,5647

123,22

0,7553

1,2635

0,9456

R1:

1,1112

1,5622

122,97

0,7528

1,2610

0,9431

S1:

1,1082

1,5592

122,67

0,7498

1,2580

0,9401

S2:

1,1057

1,5567

122,42

0,7473

1,2555

0,9376

S3:

1,1022

1,5532

122,07

0,7438

1,2520

0,9341