Daily Forex News
#1
Technical Overview of GBP/USD, AUD/USD and USD/JPY Currency Pairs
 
GBP USD

The GBP traded higher against the USD and closed at 1.2843.

 
Retail Sales m/m reflect a change in the US retail sails in the reported month compared to the previous one. The indicator is calculated based on statistics received from 5,000 retail stores of different types and sizes, and the data are then extrapolated to the whole country.
 
The indicator is used for estimating inflation. Its growth may have a positive effect on dollar quotes.
 
According to the Analysis, The pair is expected to find support at 1.28052, and a fall through could take it to the next support level of 1.27675. The pair is expected to find its first resistance at 1.29183, and a rise through could take it to the next resistance level of 1.29937.
 
Previous Day range was 113.1 and Current Day Range is 24.9.
 

AUD USD


The AUD traded higher against the USD and closed at 0.7088.

 
Initial Jobless Claims show the number of people filing to receive unemployment insurance benefits for the first time over the past week.
 
The indicator is used to assess the state of the labor market. Since the weekly flow of data causes high volatility, the four-week average values are used most often for interpretation.
The indicator growth can have a negative effect on US dollar quotes.
 
The pair is expected to find support at 0.70703, and a fall through could take it to the next support level of 0.70531. The pair is expected to find its first resistance at 0.71205, and a rise through could take it to the next resistance level of 0.71535.
 
AUD USD previous Day range was 50.2 and Current Day Range is 35.5.
 
USD JPY

The USD traded higher against JPY and closed at 111.

 
Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Japan during a given quarter compared to the previous one. The calculation takes into account private consumption, government spending, the costs of all enterprises and net exports of the country.
GDP growth can have a positive effect on yen quotes.
 
According to the analysis, pair is expected to find support at 110.599, and a fall through could take it to the next support level of 110.197. The pair is expected to find its first resistance at 111.226, and a rise through could take it to the next resistance level of 111.451.
 
USD JPY previous day range was 6270 and current day range is 2550.
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#2
Technical Overview of USD/CAD,
GBP/USD and USD/JPY Currency Pairs

USD CAD


The USD traded lower against the CAD and closed at 1.335.

 
Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.
 
According to the Analysis, The pair is expected to find support at 1.33294, and a fall through could take it to the next support level of 1.33094. The pair is expected to find its first resistance at 1.33861, and a rise through could take it to the next resistance level of 1.34228.
 
Previous Day range was 56.7 and Current Day Range is 44.2.
 

GBP USD


The GBP traded higher against the USD and closed at 1.3043.

 
Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.
 
The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).
 
The pair is expected to find support at 1.30231, and a fall through could take it to the next support level of 1.30031. The pair is expected to find its first resistance at 1.30812, and a rise through could take it to the next resistance level of 1.31193.
 
GBP USD previous Day range was 58.1 and Current Day Range is 34.7.
 
USD JPY

The USD traded lower against JPY and closed at 112.012.

 
James Bullard is the President of the Federal Reserve Bank of St. Louis. Dr. Bullard took office on April 1, 2008, as the twelfth chief executive of the Eighth District Federal Reserve Bank, at St. Louis. He is currently serving a full term that began March 1, 2011. In 2013, he serves as a voting member of the Federal Open Market Committee.
 
According to the analysis, pair is expected to find support at 111.892, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.087, and a rise through could take it to the next resistance level of 112.162.
 
USD JPY previous day range was 1950 and current day range is 2410.
 
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#3
Technical Overview of EUR/USD,
USD/JPY and NZD/USD Currency Pairs

EUR USD


The EUR traded lower against the USD and closed at 1.1257.

 
The Ifo Business Climate Index reflects the current economic situation and forecasts for the next six months from the point of view of German companies. The indicator is compiled based on a survey of more than seven thousand companies. A higher than expected reading is seen as favorable for the euro quotes, while lower readings are seen as negative.
 
According to the Analysis, The pair is expected to find support at 1.12411, and a fall through could take it to the next support level of 1.12254. The pair is expected to find its first resistance at 1.12672, and a rise through could take it to the next resistance level of 1.12776.
 
Previous Day range was 26.1 and Current Day Range is 15.8.
 

USD JPY


The USD traded lower against the JPY and closed at 111.931.

 
The New Home Sales indicator reflects sales of newly constructed residences in the United States in the specified month. It measures new single-family home sales.
 
The indicator is used for measuring the US housing market conditions. Index growth may have a positive effect on dollar quotes.
 
The pair is expected to find support at 111.851, and a fall through could take it to the next support level of 111.772. The pair is expected to find its first resistance at 112.000, and a rise through could take it to the next resistance level of 112.070.
 
USD JPY previous Day range was 1490 and Current Day Range is 3240.
 
NZD USD

The NZD traded lower against USD and closed at 0.6677.

 
According to the analysis, pair is expected to find support at 0.66701, and a fall through could take it to the next support level of 0.66629. The pair is expected to find its first resistance at 0.66870, and a rise through could take it to the next resistance level of 0.66967.
 
NZD USD previous day range was 16.9 and current day range is 13.
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