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Wednesday, April 27th
GBP/USD trades slightly lower
near Europe, consolidating in upper 1.45. Pair is feeling confidence this
morning amid broad
based US dollar weakness and growing anti-Brexit support. However, traders are
expecting the UK prelim GDP report due to be published in the European session.
Markets are expecting the GDP growth rate to have slow, on the back of
sentiments based on Brexit poll results. After the UK data, the main event for
the major is expected to be the FOMC decision, following the conclusion of the
two-day policy meeting that started on Tuesday. The pair is currently trading at 1.4573 with current support
and resistance levels located at 1.4493 and 1.4729.
trading with slight increase on Europe opening. Although retraced from higher level on Tuesday
pair is trying to handle above 1.13 spot. Ahead of the key Fed
decision the pair seems unlikely to build on to its gains beyond this immediate
resistance. The Fed is widely expected to keep interest rates on hold but
markets will be closely eyeing the statement for hints of when the committee
will announce its second rate hike since the first hike in December. Now pair is trading at 1.1325 with todays
expected support and resistance levels at 1.1220 and 1.1389.
AUD/USD drowned, refreshing multi-weeks low around 0.76, after the release of downbeat economic reports from Australia. But the greenback’s gains were limited as investors remained cautious ahead of the Federal Reserve’s policy statement, due later today amid ongoing uncertainty over the pace and timing of future rate hikes. Now pair trades under the bearish pressure still losing its positions at 0.7611, with its support and resistance levels located at 0.7597 and 0.7834
NZD/USD trades lower, hovering within a striking range of fresh session low struck at 0.6860 earlier on the day. After disappointing data from New Zealand, Kiwi followed its Australian colleague and failed handling 0.69 spot dropping nearly 50 pips. Now major consolidate, having found some support from higher oil prices. Next in focus remains the outcome of the Fed’s two-day policy meeting concluding today, followed by RBNZ cash rate decision due tomorrow in the Asian morning. Now pair is trading at 0.6875 with its todays support at 0.6859 and resistance at 0.6953
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