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Session Recap: USD under pressure amid China themes

FXstreet.com (San Francisco) – The USD traded mostly lower on the day amid the ‘situation’ between China and US over the Japanese/Chinese disputed islands and the previous days Chinese official comment that they will stop accumulation of US Dollars.

Euro, as the weakest hand in the classroom, traded high on the day to break above 1.3560 area and focus on the 1.3600. The 1.3580 will be a key resistance area before and sell interest has been localized there. The “EUR/USD shook out shorts at 1.3560 area,” commented Fibstalker.com analyst Giuseppe Basile recently in his Tweeter account. “China bomb on dollar …read more