Daily Market News by Xtreamforex

[xtreamforex]

Technical Overview of EUR/USD, GBP/USD and NZD/USD Currency Pairs

EUR USD
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The EUR traded higher against the USD and closed at 1.1388.

Federal Open Market Committee (FOMC) Member Speech may contain indications on the possible future changes in the Fed's monetary policy. Committee members participate in interest rate voting, determine appropriate monetary policy measures and assess the risks to long-run goals of price stability and sustainable economic growth.

According to the Analysis, The pair is expected to find support at 1.13708, and a fall through could take it to the next support level of 1.13535. The pair is expected to find its first resistance at 1.14055, and a rise through could take it to the next resistance level of 1.14229.

Previous Day range was 34.7 and Current Day Range is 13.9.
GBP USD
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The GBP traded lower against the USD and closed at 1.2983.

Retail Sales m/m show the changes in the value of retail goods sold in the UK for the given month compared to the previous one. The calculation uses season-adjusted data from British retailers.

The indicator is used in forecasting, budgeting and in the development of the UK financial and economic policy. The retail sales growth can affect the British pound quotes positively.

The pair is expected to find support at 1.28772, and a fall through could take it to the next support level of 1.27714. The pair is expected to find its first resistance at 1.30437, and a rise through could take it to the next resistance level of 1.31044.

GBP USD previous Day range was 166.5 and Current Day Range is 25.6.

NZD USD
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The NZD traded higher against USD and closed at 0.6761.
BusinessNZ Performance of Manufacturing Index (PMI) is compiled based on a monthly survey. It serves as a leading indicator of New Zealand's manufacturing sector activity.

According to the analysis, pair is expected to find support at 0.67303, and a fall through could take it to the next support level of 0.66995. The pair is expected to find its first resistance at 0.67892, and a rise through could take it to the next resistance level of 0.98173.

NZD USD previous day range was 58.9 and current day range is 22.4.

 

[xtreamforex]

Technical Overview of EUR/USD, USD/CAD and USD/JPY Currency Pairs

EUR USD

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The EUR traded higher against the USD and closed at 1.1359.
ECB Deposit Rate Decision is announced after the European Central Bank meetings, on which the monetary policy of the euro zone is discussed. The regulator takes decisions on deposit rates depending on the inflationary outlook and economic growth.
Cut in deposit rates leads to a lower euro rate.

According to the Analysis, The pair is expected to find support at 1.13393, and a fall through could take it to the next support level of 1.13195. The pair is expected to find its first resistance at 1.13761, and a rise through could take it to the next resistance level of 1.13931.

Previous Day range was 36.8 and Current Day Range is 9.

USD CAD

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The USD traded lower against the CAD and closed at 1.3354.

Canada Core Retail Sales m/m reflect the change in retail sales in the reported month compared to the previous one. The indicator is calculated based on statistics from retail stores of different types and sizes. The index calculation does not include sales of autos and spare parts.

Retails Sales are an indicator of consumer activity in Canada, and an important component of national GDP. The indicator growth can have a positive effect on CAD quotes.

The pair is expected to find support at 1.33105, and a fall through could take it to the next support level of 1.32671. The pair is expected to find its first resistance at 1.33773, and a rise through could take it to the next resistance level of 1.34007.

USD/CAD previous Day range was 66.8 and Current Day Range is 32.4.

USD JPY

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The USD traded higher against JPY and closed at 109.361.

BoJ Press Conference is a main PR event of the Japanese regulator. During the Press Conference, the Bank of Japan Governor or Deputy Governor explains decisions concerning the monetary policy, describes their views on the prospects of economic development and answers questions.
If the regulator's statement contains some hints at the upcoming tightening of the monetary policy, this has a short-term positive impact on JPY.

According to the analysis, pair is expected to find support at 109.110, and a fall through could take it to the next support level of 108.859. The pair is expected to find its first resistance at 109.650, and a rise through could take it to the next resistance level of 109.939.

USD JPY previous day range was 5400 and current day range is 4550.

 

[xtreamforex]

Technical Overview of GBP/USD, AUD/USD and NZD/USD Currency Pairs

GBP USD

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The GBP traded higher against the USD and closed at 1.3066.

According to the Analysis, The pair is expected to find support at 1.29795, and a fall through could take it to the next support level of 1.28929. The pair is expected to find its first resistance at 1.31155, and a rise through could take it to the next resistance level of 1.31649.

Previous Day range was 136 and Current Day Range is 27.4.

AUD USD
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The AUD traded lower against the USD and closed at 0.7139.

Australia Employment Change measures a change in the number of officially employed Australians in the reported month.
Employment growth is a sign of a stronger labor market and can be seen as positive for the Australian dollar quotes.

The pair is expected to find support at 0.71229, and a fall through could take it to the next support level of 0.71070. The pair is expected to find its first resistance at 0.71492, and a rise through could take it to the next resistance level of 0.71956.

AUD USD previous Day range was 26.3 and Current Day Range is 46.

NZD USD

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The NZD traded higher against USD and closed at 0.6786.

Core Durable Goods Orders m/m reflect the value of orders received by manufacturers of durable goods in the given month compared to the previous one. The production of transport industry is excluded from the calculation.

The index allows forecasting future production volumes in the short term.
The value growth can have a positive effect on dollar quotes.

According to the analysis, pair is expected to find support at 0.67528, and a fall through could take it to the next support level of 0.67193. The pair is expected to find its first resistance at 0.68089, and a rise through could take it to the next resistance level of 0.68315.

NZD USD previous day range was 56.1 and current day range is 24.8.