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Tuesday, July 12th
GBP/USD
Current price: 1.3122 (1%)
Session range: Open 1.2987; High 1.3156; Low 1.2972
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2891, R. 1.3227
Main drivers: Speech of BoE Gov M.Carney, speech of FOMC Member D.Tarullo, speech of FOMC Member J.Bullard, US JOLTs Job Openings, speech of FOMC Member N. Kashkari
Overview: Yesterday the pair experienced high volatility during Asia session on the back of the intensified risk-on sentiment. Now the pair is trying to consolidate its yesterdays gains just above the level of 1.31. Today the pair most likely will keep its bullish mood however the pairs actions will be limited as now all focus shifts on Bank of England Governor M.Carney’s Financial Stability Report that is coming ahead today.
EUR/USD
Current price: 1.1116 (0.5%)
Session range: Open 1.1057; High 1.1127; Low 1.1052
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.0990, R. 1.1141
Main drivers: Speech of FOMC Member D.Tarullo, speech of FOMC Member J.Bullard, US JOLTs Job Openings, speech of FOMC Member N. Kashkari
Overview: The pair is trading on the upper note on the back of improved risk appetite and US dollars weakness across the board despite yesterdays FOMC Members L.Mester upbeat mid-term outlook in post-Brexit uncertain economic conditions but still leaving doors opened for further interest rate hike.
USD/JPY
Current price: 103.20 (0.4%)
Session range: Open 102.77; High 103.62; Low 102.45
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 101.22, R. 104.45
Main drivers: Speech of FOMC Member D.Tarullo, speech of FOMC Member J.Bullard, US JOLTs Job Openings, speech of FOMC Member N. Kashkari, Chinese Trade Balance
Overview: The pair has performed a sharp growth yesterday and now is consolidating above the level of 103 on the back of Japanese PM Sh.Abe confirmation of further economic growth stimulations. Following yesterdays Sh.Abe’s confirmation now traders are awaiting for Japanese PM to announce an additional fiscal stimulus package of economic growth revival.
AUD/USD
Current price: 0.7633 (1.4%)
Session range: Open 0.7530; High 0.7637; Low 0.7528.
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7457, R. 0.7678
Main drivers: Speech of FOMC Member D.Tarullo, speech of FOMC Member J.Bullard, US JOLTs Job Openings, speech of FOMC Member N. Kashkari, Australian Westpac Consumer Sentiment, Chinese Trade Balance
Overview: Today Australian dollar is trading in upper note against its American counterpart as risk-on sentiment is still dominating on the market field fueling Aussie bulls. Moreover, broad based US weakness with yesterdays improved Aus NAB Business Confidence figure are forcing bulls to push the pair in north direction this morning.
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