The negative fundamental docket influences the risk attitude.
Asian and European trading sessions:
Euro: The Euro-zone fundamental outlook for the upcoming data is rather weak, which rendered additional pressure on the high-risk assets. The German IFO business climate is expected to show decline from the previous month. Its forecast was set at 105.5 when the previous month resulted in 106.2 level.
The EUR/USD pair traded in the range of $1,2680-$1,2730.
US Dollar: The US fundamentals had negative forecasts as well. The existing home sales level was expected to show considerable decrease.
British Pound: The sterling managed to rise above the $1,5600 mark against the greenback.
Japanese Yen: Safe haven currencies were supported during the morning trading. Concerns over the world economy rehabilitation reinforced the demand for the low-risk assets. In addition, the Japanese merchandise trade exports and imports are expected to decrease. Japanese yen strengthened against its competitors.
The USD/JPY rate dropped to Y85,30.
Australian Dollar: According to the released results of the Australian Parliament elections, none of the political parties managed to reach the majority vote. Therefore, the Australian dollar was under pressure.
American trading session:
Euro: The released Euro-zone fundamentals on Monday, rendered additional pressure on the euro. The Euro-zone purchasing manager index manufacturing decreased to 55.0 from the 56.7 level from the previous month. The Euro-zone purchasing manager index services dropped to 55.6 from 55.8.
Technical analysis for 24/08
EURUSD
The pair has dropped to Fibonacci 1.26379. If the pair breaks this level and closes below, then the pair may continue declining. The next aim maybe found at 1.25690.
Resistance: 1.27009, 1.28630, 1.30277
Support: 1.26389, 1.25690, 1.23907
GBPUSD
The MACD divergence forces pair to drop. First aim at 1.52523.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The MACD divergence doesn’t let pair to decline. If 1.05139 is broken the pair will rise to 1.06179. If the pair stays below 1.03987 the pair will decline to 1.02747.
Resistance: 1.05139, 1.06179, 1.07258
Support: 1.03987, 1.02747, 1.01498
USDJPY
The MACD divergence forces pair to rise. If the pair stays above 85.161 the pair will rise to 86.246. If the pair stays below 85.161 the pair will drop to 84.260.
Resistance: 86.246, 87.014, 87.728
Support: 85.161, 84.260, 83.330
AUDUSD
The pair has dropped to 0.89029 and trying to close below this level. This may bring pair to test 0.87243.
Resistance: 0.89029, 0.90284, 0.92170
Support: 0.87243, 0.85760, 0.84238
Asian and European trading sessions:
Euro: The Euro-zone fundamental outlook for the upcoming data is rather weak, which rendered additional pressure on the high-risk assets. The German IFO business climate is expected to show decline from the previous month. Its forecast was set at 105.5 when the previous month resulted in 106.2 level.
The EUR/USD pair traded in the range of $1,2680-$1,2730.
US Dollar: The US fundamentals had negative forecasts as well. The existing home sales level was expected to show considerable decrease.
British Pound: The sterling managed to rise above the $1,5600 mark against the greenback.
Japanese Yen: Safe haven currencies were supported during the morning trading. Concerns over the world economy rehabilitation reinforced the demand for the low-risk assets. In addition, the Japanese merchandise trade exports and imports are expected to decrease. Japanese yen strengthened against its competitors.
The USD/JPY rate dropped to Y85,30.
Australian Dollar: According to the released results of the Australian Parliament elections, none of the political parties managed to reach the majority vote. Therefore, the Australian dollar was under pressure.
American trading session:
Euro: The released Euro-zone fundamentals on Monday, rendered additional pressure on the euro. The Euro-zone purchasing manager index manufacturing decreased to 55.0 from the 56.7 level from the previous month. The Euro-zone purchasing manager index services dropped to 55.6 from 55.8.
Technical analysis for 24/08
EURUSD
The pair has dropped to Fibonacci 1.26379. If the pair breaks this level and closes below, then the pair may continue declining. The next aim maybe found at 1.25690.
Resistance: 1.27009, 1.28630, 1.30277
Support: 1.26389, 1.25690, 1.23907
GBPUSD
The MACD divergence forces pair to drop. First aim at 1.52523.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The MACD divergence doesn’t let pair to decline. If 1.05139 is broken the pair will rise to 1.06179. If the pair stays below 1.03987 the pair will decline to 1.02747.
Resistance: 1.05139, 1.06179, 1.07258
Support: 1.03987, 1.02747, 1.01498
USDJPY
The MACD divergence forces pair to rise. If the pair stays above 85.161 the pair will rise to 86.246. If the pair stays below 85.161 the pair will drop to 84.260.
Resistance: 86.246, 87.014, 87.728
Support: 85.161, 84.260, 83.330
AUDUSD
The pair has dropped to 0.89029 and trying to close below this level. This may bring pair to test 0.87243.
Resistance: 0.89029, 0.90284, 0.92170
Support: 0.87243, 0.85760, 0.84238