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Friday, October 9th
EUR/USD was slightly higher after release of Fed minutes. The pair traded in between 1.1238 and 1.l326 before settling at its current level 1.1283. During the September monetary policy meeting, the FOMC voted nearly unanimously to leave the interest rate unchanged, making it the 55th consecutive month that the rates were left at record-lows. Among the concerns over Chinese slowdown and inflation remaining below targeted goal of 2%, Fed decided to postpone the normalization of monetary policy. The support and resistance levels are located at 1.1199 and 1.1405, respectively.
NZD/USD prices rallied as lower demand for the dollar was supporting the demand for riskier assets, while causing the rise in the oil prices as well. The Kiwi is changing hands at 0.6692, the pair’s highest since August 21.The recovery of NZD was not even diminished by the lower than expected volume of home loans. Ahead in the day, there is nothing significant on the economic calendar to consider for placing orders in this instrument, apart from US import prices, which may have little effect on NZD. The support and resistance levels are seen at 0.6594 and 0.6776.
GBP/USD is higher after Thursday data came out in line with expectations in Britain, while dollar was feeling even more pressure amid FOMC minutes. Later in the day, the cable’s moves might be affected by the UK Trade Balance data. The support and resistance levels are located at 1.5227 and 1.5494 for this instrument today.
USD/CAD has finally dropped below 1.3010 as yesterday’s data showed housing starts were in green colour in Canada. Today’s employment change figures might provide even greater support to the loonie. It is the right time to start considering the mid-term short positions in this instrument, as 1.3010 was the key support level and in case we see the continuation of the current move, the trend reversal is well possible. The next support level might be found at 1.2862, while resistance is located at 1.3011.
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Monday, October 12th
NZD/USD is higher again currently trading at 0.6730. The U.S. markets are closed today for a national holiday while the greenback remained under pressure after the latest Fed Policy meeting. Tomorrow, N.Z. publishes its Food Price Index, which is likely to affect this instrument’s price. Support and resistance levels are located at 0.6642 and 0.6777, respectively.
AUD/USD is moving up after reaching its current 0.7357 level. The pair remains close to its one-and-half month peak after weakness seen in the American dollar. Tomorrow, there is a speech expected from RBA officials, as well as NAB Business Confidence figures. The support is expected to be found at 0.7255, while resistance is seen at 0.7427. Chinese Trade Balance data will be closely watched on Tuesday.
GBP/USD is trading at 1.5364 ahead of important week in terms of economic news releases. Great Britain is publishing its CPI on Wednesday, which will give further indication of the current inflation growth rate. On Thursday, the market is expecting the employment data. Current support and resistance levels are located at 1.5187 and 1.5426, respectively.
EUR/USD is higher against the greenback, quoted at 1.1377. This week’s European data consists of Industrial Production figures and CPI, while on the US side, investors will be looking at Core Retail Sales, PPI, Core CPI, Philadelphia Fed Manufacturing Index and FOMC member speeches.
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Tuesday, October 13th
AUD/USD was lower in Asia as Chinese Trade Balance data was out mixed. The export figures came out in green light with 3.7% contraction, while imports declined more than expected by 20.4% totaling the balance to 60.34B. Meanwhile NAB Business Confidence index was beat the expectations with this month’s reading at 5. The pair is currently trading at 0.7320 after reaching one-and-half month peak at 0.7381 in course of Monday trade. Current support and resistance levels are located at 0.7297 and 0.7450, respectively.
EUR/USD continues climbing up as Fed rate hike remains in focus. The currency pair traded in a broad range between 1.1268 and 1.1397 before settling at its current 1.1373. Yesterday, Atlanta Fed president Dennis Lockhart indicated that FOMC will have more economic data at its disposal in December to make the decision versus this month’s meeting. There have been other comments coming from Fed, many of which also indicated the postpone in the rate hike is very likely. Later in the day, Germany publishes its ZEW Economic Sentiment. Support is seen at 1.1275, while resistance can be found at 1.1436.
GBP/USD is changing hands at 1.5375 before British CPI publication. Tomorrow will be another important day for the price action as Average Earnings and Claimant Count Change are expected. The cable returned to its previous consolidation in between 1.5451 and 1.5349 and mid-term expectations are mostly bullish, partially in view of weaker dollar. Current support level is located at 1.5254 with resistance seen at 1.5471.
NZD/USD was weaker this morning as Chinese Trade Balance data was mixed. The pair reached as high as 0.6739 before declining to 0.6695 today. N.Z. Food Price Index came out in line with expectations at -0.5%. The forecasts are mostly bullish with support and resistance at 0.6663 and 0.6800, respectively.
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Thursday, October 15th
EUR/USD surges to monthly high amid downbeat US retail sales data. The retail sales MoM figure showed just 0.1% growth, while core retail sales contracted 0.3%. The PPI also declined 0.5%. There is no significant data expected from euro zone today, but on the US side, investors are viewing Core CPI and Philadelphia Fed Manufacturing Index. The single currency is trading at 1.1490 with support and resistance located at 1.1368 and 1.1596, respectively.
GBP/USD is broadly higher amid mixed British data from labor market and weaker dollar. The cable is changing hands at 1.5492, having passed through a strong resistance 1.5414. Without significant data expected from the UK this week, the pair will be mostly following the moves of the USD. However, the pair is still within the falling channel on the daily charts. Current support is seen at 1.5286, while resistance is located at 1.5690.
NZD/USD climbed to its highest since June 29 currently trading at 0.6846. The weak economic data from the US fuelled expectations that Fed rate hike would be delayed for an even longer period than expected. Tomorrow, N.Z. publishes its CPI, which, in case of a good reading, might lead the pair to test the psychological 0.70 level. The support and resistance levels are seen at 0.6671 and 0.6938, respectively.
AUD/USD was recovering the losses suffered on Tuesday, when the pair fell amid lackluster Chinese Trade Balance report. However, higher than expected Westpac Consumer Sentiment reading supported the pair yesterday. The aussie is going up despite weaker than expected employment change, although unemployment rate was below than was predicted by analysts. The support is seen at 0.7213, while resistance is located at 0.7406.
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Friday, October 16th
AUD/USD is trading lower after RBA comments on weaker economic view of China and emerging economies. The pair reached to as high as 0.7363 in course of yesterday’s trade before falling to 0.7291 this morning. The support and resistance levels are located at 0.7261 and 0.7433.
EUR/USD fell sharply amid US Core CPI figures coming out in green colour. Despite being higher than expected, US inflation is still modest, which adds to the dovish tones in the possible rate hike discussions. Later in the day, euro zone CPI is being published. No significant data is expected out of US. The support and resistance levels are located at 1.1250 and 1.1497.
USD/CAD is changing hands at 1.2867 having passed the strong support level at 1.3010. Ahead in the day, the Canadian bureau of statistics is publishing the Foreign Securities Purchases and Manufacturing Sales, which is likely to have visible effect on the price. Next support level is seen at 1.2731, while resistance is now at 1.3010.
NZD/USD was slightly lower in Asia following the moves of AUD. The losses were limited as higher than expected N.Z. CPI figures provided support to the pair. New Zealand CPI came out at 0.3% (QoQ) versus expectations of 0.2%. The pair is likely to gain support at 0.6785, while resistance is located at 0.6967.
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Monday, October 19th
NZD/USD slipped lower on Monday as Chinese GDP growth rate slowed from the previous 7% to its current 6.9%. Industrial production figures in China were in red colour at 5.7% versus 6% expected by analysts. The Kiwi is changing hands at 0.6811 against its US counterpart. Current support and resistance levels are located at 0.6706 and 0.6884, respectively.
EUR/USD is aiming up trading at 1.1373 after the losses suffered in the end of last week. On Thursday, ECB stated that additional measures are needed to boost price growth in the euro zone. Data on Friday confirmed that the rate of inflation in the euro area turned negative in September for the first time since the ECB launched its trillion euro asset purchase program in March. Current support and resistance levels are located at 1.1253 and 1.1429.
GBP/USD is slightly higher at 1.5435. Tomorrow, the market’s attention will be on the speech of BoE Governor Carney, who is expected to provide some clues on bank’s vision of decline in inflation. On Wednesday, investors are viewing the British public sector net borrowing figures. Retail sales data is due on Thursday. The support is seen at 1.5327, while resistance is located close to 1.5540.
AUD/USD held steady this morning despite weak data from China while sentiment on the greenback remained vulnerable. The pair is located at 0.7291. This week, data is expected from US, which is likely to affect the AUD price. This includes US Building permits and existing home sales. The support and resistance levels are at 0.7174 and 0.7337.
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Tuesday, October 20th
USD/CAD edges higher in the early trade as demand for the greenback strengthens after mixed US data of Friday. The pair is back above 1.3010 level, which was viewed as the main resistance for this instrument since USD dropped to 1.2832 against its Canadian counterpart. Later in the day, Wholesale Sales data is expected from Canada, while on the US side the market is viewing the number of issued building permits and the speech of Fed Chair J. Yellen. The support and resistance levels are seen at 1.2870 and 1.3120, respectively.
GBP/USD is still moving up since market opening on Monday ahead of the speech from BoE Governor Mark Carney. While the focus of the speech is not directly on the monetary policy or the growth outlook, Q&A on the role of BoE may drift into a discussion of current monetary policy. Tomorrow, Britain will publish its Public Sector Borrowing figures. The support is seen at 1.5369, while resistance is expected to be met at 1.5594.
AUD/USD is higher currently changing hands at 0.7276 after upbeat RBA minutes. The Bank stated that low interest rates are having a desired effect on the economy. On China, the Bank highlighted that country’s service sector is performing well. Tomorrow, Australia publishes the CB and MI Leading Indices.
EUR/USD declined mildly to trade at 1.1330 as investors await a critical meeting by the ECB later this week for hints from M. Draghi of a potential expansion of a comprehensive €1.1 trillion bond buying program. Today, traders are keeping an eye on the euro zone Current Account figures. Outlined from an hourly perspective, the pair is being carried into new low ground without significant volatility. It is well possible for the single currency to break out higher once we see a higher degree of volatility.
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Thursday, October 22nd
EUR/USD was lower to trade at 1.1340 amid slightly stronger dollar. Although, the greenback did not show any significant growth ahead of US jobless claims data due this evening. Today, higher volatility degree is expected for EUR as comments from M. Draghi are likely to give indications of how effective the quantitative easing program was. From the US, Existing Home Sales figures are expected. The support and resistance levels are located at 1.1258 and 1.1415.
GBP/USD is changing hands at 1.5451 ahead of UK Retail sales data. Yesterday, Public Sector Net Borrowing figures came out in green colour at 8.63B verus 9.40B expected. The retail sales figures are expected to show the slowest growth in Q3 sicne Q4 2013. However, the outlook for private consumption remains positive because of increasing employment and positive wage growth. The pair is likely to find support at 1.5304, while resistance is seen at 1.5525.
USD/CAD is changing hands at 1.3122 after BoC left the interest rate at its previous level of 0.50%. Ahead of the day, Canada will publish the Core Retail sales figures. BoC stated that Canadian economy will grow just 2% in 2016 and 2.5% in 2017, down from previous forecasts of 2.3% and 2.6%. Today, pair’s moves might get highly affected by the US data. The support is seen at 1.3010, while resistance is located at 1.3245.
AUD/USD is moving down amid slightly stronger dollar. In Australia, the NAB quarterly business confidence survey fell to flat from plus-4 in the previous quarter, while conditions gained to plus-11 from plus-5. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.02% at 95.06. The support and resistance levels are seen at 0.7133 and 0.7280, respectively.
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Monday, October 26th
EUR/USD opened at 1.1005 in Asia and rose to 1.1032 to this moment. Last week, the single currency dropped to 2-month lows amid the speech of M. Draghi who reiterated a possibility of further widening of QE program. This week, the euro zone is publishing the private sector loans figures, M3 money supply, consumer confidence and CPI. Current support and resistance levels are located at 1.0881 and 1.1135.
GBP/USD is changing hands at 1.5319. The cable declined last Friday as US dollar rallied amid PBOC announcing an interest rate cut. Today, the focus of investors is on the British CBI Industrial Trends Orders and BBA Mortgage Approvals. The support and resistance levels are at 1.5176 and 1.5444, respectively.
AUD/USD is higher at 0.7246 amid Chinese rate cut. In the week ahead, investors will be focusing on Wednesday’s monetary policy announcement by the Federal Reserve for fresh indications on the timing of an initial rate hike. Friday’s monetary policy announcement by the Bank of Japan will also be closely watched. The support is seen at 0.7173 and resistance is expected to be met at 0.7347.
NZD/USD rose to 0.6773 this morning and the pair is expected to rise higher as dollar remains weak. Ahead in the day, US is publishing its New Home Sales figures. N.Z. Trade balance numbers are due tomorrow.
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Tuesday, October 27th
NZD/USD is trading lower at 0.6776 after publication of N.Z. trade balance deficit figures, which came out in red colour. However, the losses were limited due to weaker than expected new home sales data from US on Monday. The disappointing report added to speculation that the Federal Reserve will hold off on raising interest rates until well into 2016. The support and resistance levels are located at 0.6732 and 0.6867.
GBP/USD was higher on Monday, but the pair is moving down today after release of disappointing data from UK. CBI Industrial Trends Orders showed negative reading of minus 18. Ahead in the day, the British GDP is published. Current support is seen at 1.5252 and resistance is expected to be met at 1.5485.
EUR/USD was up yesterday amid dollar dippig against other major currencies as investors positioned ahead of the start of the Federal Reserve’s two-day policy meeting beginning later in the session. The dollar remained on the back foot after a disappointing report on U.S. home sales prompted investors to trim back expectations for a rate hike before the years end. It is likely that single currency will see some support at 1.0974, while resistance is anticipated at 1.1153.
USD/CAD is up on its current level at 1.3186 ahead of the Fed meeting and Core Durable Goods Orders publication in the US. Later in the week, Canada is publishing its IPPI and RMPI figures and the GDP data. Having passed the 1.3010 level, the continuation of the bullish trend is more likely to continue so the sentiment remains on the upside. The pair will meet support at 1.3109 and resistance at 1.3260.
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Tuesday, October 29th
EUR/USD fell sharply on Wednesday slumping to a fresh two-month low, after the Federal Open Market Committee held short-term interest rates at its current near-zero during its October monetary policy meeting. Economic data is expected from euro zone later in the day with Business Climate figures, Consumer Inflation Expectation and services sentiment. The support and resistance levels are located at 1.0756 and 1.1065, respectively.
GBP/USD is changing hands at 1.5260 after yesterday’s fall stipulated by the FOMC comments and stronger than expected data from US as Goods Trade Balance deficit contracted more than anticipated and Crude Oil Inventories also came out in green colour. Ahead in the day, the cable will be affected by the block of British news including mortgage approvals data, let lending to individuals and M4 money supply. Nationwide HPI was higher than last month by 0.1% while the index was not expected to change its reading. Current support and resistance levels are located at 1.5178 and 1.5356, respectively.
USD/CAD slid lower on Wednesday, pulling away from a one-month high as sentiment on the greenback was vulnerable ahead of the Federal Reserve’s monthly policy statement. Today, the loonie is going up as investors await the Canadian IPPI and RMPI data. The pair is changing hands at 1.3208 with support seen at 1.3123 and resistance at 1.3286.
NZD/USD is changing hands at 0.6664 and expectations are mostly bearish for today. Today, the pair will be following the moves of the US dollar, which is likely to be affected by the US GDP figures and Pending Home Sales data. Tomorrow, New Zealand publishes its Building Consents numbers and ANZ Business Confidence index. The support might be found at 0.6546 while resistance is located at 0.6732.
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Friday, October 30th
USD/JPY was stronger on Friday as the Bank of Japan held monetary policy steady as expected. The BoJ decided by an 8 to 1 vote to leave the bank’s policy target unchanged, as largely expected, indicating policymakers are confident that the economy will rebound in the coming months and that the underlying trend of prices continues to rise. USD/JPY traded at 120.82, down 0.26%, after the BoJ and household data and consumer prices and unemployment. Current support and resistance levels are seen at 120.25 and 122.08, respectively.
EUR/USD rose considerably on Thursday erasing some of its losses from a massive sell-off one session earlier, as currency traders continued to digest hawkish views from the Federal Reserve on the increasing likelihood of a December interest rate hike. The currency pair traded in a broad range between 1.0897 and 1.1095, before settling at 1.0978. Ahead in the day, euro zone is publishing its CPI figures as well as unemployment rate. The support and resistance levels are located at 1.0885 and 1.1079.
USD/CAD was almost unchanged on Thursday after the release of disappointing U.S. economic growth data, while expectations for a U.S. rate hike before the end of the year lent support to the greenback. USD/CAD hit 1.3238 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3199. Ahead in the day, Canada is releasing its GDP and Budget Balance data. The support is seen at 1.3078, while resistance is likely to be met at 1.3230.
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Monday, November 2nd
EUR/USD was flat in Asia trading at 1.1029. Last week, euro zone reported that inflation fell 0.1% in August. It was the first time in six months that the region saw declining inflation. Data also showed that the single currency bloc’s unemployment rate slipped to 10.8% last month from 10.9% in August, whose figure was revised from a previously estimated 11.0%. Later in the day, euro zone is publishing its Manufacturing PMI. On the US side, investors are viewing ISM Manufacturing PMI. Current support level is located at 1.0931 and 1.1148, respectively.
AUD/USD was rising amid Caixin Manufacturing Index coming out in green colour at 48.3 against 47.5 expected. In Australia, AIG Manufacturing Index was showed little growth by 0.1 from its previous 52.1. Tomorrow, RBA will announce its interest rate decision. The support level is seen at 0.7068, while resistance is likely to be met at 0.7219.
USD/JPY was slightly lower this morning amid downbeat Chinese data published this weekend. However, the pair managed to return close to the opening point as Caixin manufacturing index showed more growth than expected by analysts. The economic calendar is not loaded with Japanese economic data this week, so the focus will be on Kuroda’s speech and NFP data publication. Current support and resistance levels are located at 119.24 and 121.67, respectively.
GBP/USD was broadly up last week, amid dollar being under pressure and publication of upbeat British economic data. Today, UK Manufacturing PMI numbers are due, which are going to have effect on the currency pair moves. In the perspective of this week, the expectations are bullish amid NFP anticipation. Current support and resistance levels are 1.5291 and 1.5608, respectively.
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Tuesday, November 3rd
AUD/USD rises to one-week highs after the Reserve Bank of Australia left interest rates on hold and signaled the possibility of further rate cuts in the future. Speaking after the decision, RBA Governor Glenn Stevens that "the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand.” The American dollar remained under pressure after the Institute for Supply Management said its index of purchasing managers fell to a more than two-year low of 50.1 last month from a reading of 50.2 in September. Current support and resistance levels are located at 0.7094 and 0.7205.
NZD/USD fell this morning but the losses were limited as demand for the greenback remained under pressure after the previous session’s weak U.S. data. ANZ Commodity Price Index came out with 6.9% reading after its previous 5.5%. Later in the day, US publish its Factory orders numbers. The support and resistance levels are at 0.6666 and 0.6796, respectively.
EUR/USD posted modest losses on Monday remaining above 1.10 amid a wave of mixed manufacturing data around the globe. In Europe, overall export levels surged in October to a four-month high while total order growth across the euro zone rose to its highest level since April, 2014. The Spanish Unemployment change figures camou out in red colour at 82.3K versus 70.3K expected by analysts. Later in the day, the market is expecting a speech from ECB President Mario Draghi. The support is seen at 1.0927, while resistance is located at 1.1091.
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Thursday, November 5th
EUR/USD dropped sharply falling to its lowest level in more than three months, after Janet Yellen brought a December rate hike into play with hawkish comments before a Congressional committee on Wednesday. The currency pair traded in a broad range between 1.0844 and 1.0968, before settling at 1.0863. Ahead in the day, euro zone is publishing its Retail Sales data right before the speech of ECB President Mario Draghi. Current support and resistance levels are located at 1.0823 and 1.0967, respectively.
GBP/USD was rising on Wednesday amid strong Services PMI data, but the cable didn’t manage to withstand the hawkish comments from the Fed. Ahead in the day, Britain is publishing the MPC vote outcome, which will reflect the BoE approach to current monetary policy. Initial jobless claims data is expected on the US side. Current support and resistance levels are located at 1.5254 and 1.5494, respectively.
AUD/USD was almost unchanged on Thursday, as expectations for a December rate hike in the U.S. continued to support the greenback and as investors eyed upcoming U.S. data. Tomorrow, Australia is publishing its AIG Construction Index, while the attention of the market will be mostly focused on the NFP figures publication. Current support and resistance levels are located at 0.7064 and 0.7225.
USD/CAD is currently changing hands at 1.3145 after rising on Wednesday. The Canadian Trade data was out in green colour indicating a contraction of Trade Balance deficit. Although, the interest rate hike expectations in the US were taken as a bullish sign by investors. It is expected that the bullish trend will continue in mid-term. Current support and resistance levels are seen at 1.3078 and 1.3221.
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Friday, November 6th
AUD/USD gains in Asia currently trading at 0.7149. The aussie rose higher after the Monetary Policy Statement by RBA. The central bank said that Asian growth remained a key uncertainty on future policy and also noted that the scope for easier policy remained in place. AIG Construction Index was higher than last month at 52.1. Current support and resistance levels are located at 0.7076 and 0.7193.
GBP/USD fell sharply on Thursday, extending losses down to its current 1.5194 after a dovish Bank of England quarterly inflation report signaled that interest rates are likely to remain on hold for an extended period. Later in the day, Britain is publishing the Manufacturing Production data and Trade Balance figures. The support is seen at 1.5034, while resistance is likely to be met at 1.5384.
EUR/USD remained near 14-week lows ahead of key US jobs report despite a slight uptick on Thursday. The currency pair traded in a tight range between 1.0834 and 1.0897 before settling at 1.0880. The next two U.S. job reports are viewed as critical for policymakers in favor of an imminent rate hike. Yellen reiterated in her testimony that the Federal Open Market Committee will continue to take a data driven approach to its decision on whether to normalize monetary policy. The support and resistance levels are located at 1.0801 and 1.0974.
USD/CAD rose on Thursday as expectations for a December rate hike in the U.S. continued to support despite the release of disappointing U.S. jobless claims data. USD/CAD hit 1.3181 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3175. Later in the day, Canada is publishing Building Permits and Labor market data. On the US side, investors are waiting for Non-Farm Payrolls publication.
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Friday, May 27th
GBP/USD was trading in 25-pips narrow range between 1.4659 and 1.4682 handling throughout the Asian session. The pair has retreated from almost four-week highs above 1.47 level and now consolidates entrenched positions. As the UK data calendar is empty for today traders will focus on Q1 US GDP print and hawkish comments from Fed Chair Yellen that will provide fresh incentives for the pair. At the moment the pair trades at 1.4666 spot with todays approximate support and resistance levels at 1.4582 and 1.4782
EUR/USD is trading slightly higher today against previous day, but still under the 1.12 resistance level. Today expected that USD bulls would take control over the pair, as traders will closely watch for US major releases such as US GDP report, which most likely will improve to 0.9% from the previous 0.5% and Fed Chair Yellen’s speech that will provide some bid-tone for the US currency across the board. Meanwhile, trades activity will be limited today as Memorial Day celebrations begin later tonight. Now pair trades at 1.1180 spot, with todays support and resistance levels located at 1.1117 and 1.1253 spots
USD/CHF struggles to break through key resistance level at 0.99. The pair was hovering in 10 pips narrow range this morning after spiking this month low at 0.9872 spot. Today traders will focus on US Q1 GDP and Fed Chair Yellen’s speech, as surprisingly strong numbers in GDP would definitely trigger a bullish spike in the pair. At the moment pair is trading at 0.9897, meeting resistance just before 0.99 level. Support and resistance level for the pair are located at 0.9842 and 0.9952.
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Monday, May 30th
GBP/USD undergoing correction process, keeping downside trend for the third day in a row. Cable remains vulnerable to its counterpart as FOMC chair J. Yellen said on Friday that a rate hike is appropriate in June. Also the pair is still suffering from the Brexit sentiments, as less then month is left to EU referendum. Today the pair will stay directionless as both the US and UK markets remain closed. At the moment the pair is trading at 1.4624 finding support at 1.46 level. Todays support and resistant levels are located at 1.4552 and 1.4720
USD/JPY has managed to break through its key support level at 111 and now the pair is expanding its gains near its multi-week high at 111.40. Yen has lost its ground moving form Fridays low at 109.50 to todays multi-week high on the back of positive US GDP with hawkish comments from the Feds Head J. Yellen provided last Friday. Also the pair gained perceptible upward boost as traders are looking toward risky assets today. Today the pair will gain its direction from sentiment related to risky assets, as US market will be closed for holyday today. Now the pair is trading at 111.24 with todays support and resistance levels at 109.65 and 111,42
EUR/USD has managed to recover some positions this morning despite dollars strength. The pair fell to its multi-week lows this morning finding support at 1.11 level as Fridays hawkish comments of Fed Chair J. Yellen assured traders that rate hike by the Fed in June remains a live possibility. Today ahead German CPI while US market will be closed due to the Memorial Day holiday. At the moment the pair is trading at 1.1119 with todays support and resistance levels located at 1.1051 and 1.1231.
USD/CAD remains highly bided today on the back of strengthened US dollars positions and weakness in the oil prices. Also the pair will gain sentiments from Fed Chair Yellen’s hawkish comments as traders are still digesting her speech. Looking ahead today traders will focus on CAD secondary data such as Current Account and Raw Materials Price Index while US market is closed due to holiday. At the moment the pair is trading at 1.3072 spot with todays support and resistance levels at 1.2918 and 1.3122
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Tuesday, May 31st
EUR/USD is losing its positions, down from 1.1150 level on the back of weak German retail sales. Today Eurozone will publish Consumer prices that expectedly will show 0.1% dip on a yearly basis. If expectations come true than Eurozone will keep deflation for a fourth consecutive month. Today traders will see some local macro data from Eurozone, while US will introduce Personal Spending/Income with CB Consumer Confidence. At the moment pair is trading at 1.1133 with its approximate support and resistance levels located at 1.1079 and 1.1173
GBP/USD spiked resistance level of 1.47 and tested todays high at 1.4725 spot on the back of the latest Brexit polls, which showed that “remain” voted participants claimed 51% while their “exit” opponents stood at 46%. Spike faded quickly as market prefers to hold the US currency bid tone before US macro dataflow. Also the pair finds some support from risky sentiments which are taking control over the market amid higher Asian indices and stabilizing oil prices. Looking ahead, UK data calendar is empty today, while PCE Price Index and CB Consumer Confidence will be the main releases in the US calendar. At the moment the pair is trading at 1.4668 finding todays support and resistance at 1,4577 and 1,4707
USD/CAD is rebounding from its low at 1.3020 witnessed this morning on the back strengthened positions of the US currency and softer crude oil prices. Today sentiments around the pair will drive Canadian GDP figures with US Personal Spending/Income data and CB Consumer Confidence. Also pair will gain some influence from crude oil dynamics. Today the pair most likely will find support at 1.2983 and resistance at 1.3125 spots.
AUD/USD is trying to consolidate part of its gains above 0.72 level that became possible to reach after surprisingly strong building approvals data form Australia. Moreover, the pair gained support from USD profit-taking moves across the market. Looking ahead, traders today will closely watch for US core PCE price index and CB Consumer Confidence with Australian GDP, coming later in Asia. At the moment the pair is trading at 0.7235 spot with todays approximate support and resistance levels at 0.7133 and 0.7211.
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Wednesday, June 1st
GBP/USD has been floating in upper half of 1.44 level since this Tuesday. The pair fell sharply breaking through key resistance levels 1.47, 1.46 and 1.45 after the latest Brexit poll results showed growth in number of “leave” voted participants. Also the pair has received some bearish pressure as dollar is strengthening its positions across the market this Wednesday. Today traders will focus on Manufacturing PMI from UK with upcoming Manufacturing PMI form US. At the moment the pair is trading at 1.4493. Todays approximate support and resistance levels are located at 1.4297 and 1.4815.
AUD/USD tested two weeks high, nearly reaching 0.73 handle. The pair grew up for 70-pips reacting on the higher than expected Australian GDP numbers. But rally was slowed down after Caixin’s Manufacturing PMI showed decreasing trend. Moreover, weakness in oil prices also has weighed the pair, making it to retreat from this days high. Today traders will gain further traction from US ISM Manufacturing PMI figures, with Retail Sales and Trade Balance from Australia. At the moment the pair is trading at 0.7272 meeting todays support and resistance level at 0.7140 and 0.7312 spots.
EUR/USD has been trading in bearish trend for the fourth weeks in a row. The pair has retreated from 1.1615 spot witnessed in early May and now testing 1.11 level, meeting support at this point. The main reason of this down move is dollars weight supported by speculations of a rate hike by the Fed at its June/July meeting. Later this session traders will see both manufacturing PMIs, from Eurozone firstly, with US data coming later. Also traders will watch today for Beige Book and API Weekly Crude Oil Stock from US. Currently the pair is trading at 1.1131 level with todays support and resistance levels located at 1.1091 and 1.1193 spots.
USD/CHF ignored the release of weaker-than expected Switzerland’s GDP data. Currently the pair is trading at 0.9934 spot down from 0.9950 with todays low at 0.9930. Looking ahead, the Swiss docket is empty for further today, while US will release ISM Manufacturing PMI, Beige Book and API Weekly Crude Oil Stock. Todays support and resistance levels are located at 0.9861 and 0.9989
Your European ECN-broker,
Forex.ee
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