There was the Asian currency trading session today (25-05), look euro currency weakened against the U.S. Dollar. Pair EUR / USD is currently engaged in the range of 1.2290.

Currently, the Greek debt crisis seems to continue to show signs of contagion to other EU countries. The IMF said that banks in Spain continue to stay in Spain and Bank of pressure should be ready to intervene if the situation continues to deteriorate.

Spain reported its biggest government must cut spending since the last three decades in an effort to cut its budget deficit. Both technical, Euro remains bearish, while this seems low chance of re-test last week at the range of 1.2100.

The EUR / USD likely to weaken to a level of support in 1.2145 if passed 1.2265 level. The strengthening euro may occur if the past level of resistance at 1.2460 to the 1.2585 level.

In currency trading the Asian session today (24-05), seen the AUD currency weakened against the U.S. Dollar. Pair AUD / USD is currently engaged in the range of 0.8224.

Currently, the Commodities currencies like the AUD is experiencing a high enough pressure.Prices of commodities such as crude oil continues to slump join AUD drag, coupled with the debt crisis that still surrounds the euro zone will create high-yielding currencies like the AUD less attractive at this time.

This week, Australia’s economic data was fairly quiet, so that tends to follow global sentiment. AUD expected still more likely continue to weaken, let alone the prospect of the RBA rate hike next month pretty grim. The technical, the AUD is still bearish, while this support is in the range 0.8000.

AUD / USD likely to weaken to a level of 0.8110 if the past level of support at 0.8180. AUD reinforcement can occur when passing resistance at the level of 0.8345 to 0.8410 level.