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Wednesday, April 20th
GBP/USD is losing ground after 3-week tops at 1.4419, as the greenback is seen recovering some ground and market participants seem biased to some profit taking as well. Later in the session, UK’s key labor market figures are due, with consensus expecting the Claimant Count Change to decrease by more than 11K and the jobless rate to stay put at 5.1%. Now the pair is trading at 1.4373, with its todays support and resistance levels at 1.4299 and 1.4521.
EUR/USD took a break and was consolidating in the head of the 1.13, with slight drop after dollars buying interest resume. Today, traders will await for ECB Presidents M. Draghi speech, and existing Home Sales (Mar) from US. Currently the pair is trading at 1.1358, with marked daily low at around 1.1349. Todays support and resistance levels are located at 1.1303 and 1.1442.
AUD/USD pulling away from the previous session’s 10-month peak of 0.7826. Oil prices declined as a three-day oil worker strike in Kuwait, which had cut the country’s crude oil production nearly in half, ended late Tuesday. The end of the strike revived concerns sparked by the failure of major oil producers to reach an agreement on Sunday on a production freeze. Now pair trades at 0.7790 with its support located at 0,7760 and resistance at 0.7881.
USD/JPY changed hands and now pair is slipping down gaining bearish moves stock markets and oil prices are showing weakness. Meanwhile, the dollar remained broadly lower against the other major currencies on Tuesday, as the release of disappointing U.S. housing sector data continued to weigh on demand for the greenback. Now pair stays under the bearish pressure keeping 108.91 spot. Support and resistance levels are located at 108,70 and 110,00
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