FX.co ★ Fundamental Analysis For November 22, 2012

Chinese manufacturing is recovering as China manufacturing PMI has reached 50.4, compared to the previous 49.5.
The dollar's rival currencies benefited, especially the euro.
The euro is approaching 1.29, the first important resistance during a day with almost no volume from the close of European markets.
The news from China also gave impetus to the stock market indices.
The pound has reached 1.60, although its uptrend does not appear to be very convincing. Meanwhile, the Swiss franc, which has been very lateral lately, emerged from this dynamic and seeks it next target upward against the dollar at 0.93.
The dollar will continue its downward trend, although more attenuated, and hardly exceed 1.2905 against the euro. If it continues it will break the level of1.2930. It seems that the pound has not to overcome 1.5985; the Australian dollar has its bullish target at 1.04.