FX.co ★ Fundamental Analysis For November 28, 2012

There were intense movements during the European session on Wednesday. The U.S. dollar has recovered its positions; it may continue till the American session.
The euro moved away from the maximum of 1.3005 which was hit on Tuesday and it broke the 1.2905 support, 38.2% of the rally 1.2735/1.3005 without difficulty. It may signify even higher losses of the euro for the next few hours.
The pound still retains a moderate uptrend. But it could go the way of the euro during the American session and break 1.5970 trendline on the 4 hour chart, which accelerates a sharp decrease of the British currency.
The Australian dollar has managed to stay bullish recently. Its purpose is 1.0385, about 55 points below the current level.
At 10:00 ET New home sales in the United States data is released.