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20 May 2016, 12:25

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Friday, May 20th


EUR/USD traded in flat this morning hovering in a 15-pips narrow range. The pair remains directionless, waiting for the upcoming economic events that could set up the tone for the pair. Today Eurozone data calendar is empty while US will provide home sales data along with Fed’s member D. Tarullo speech. Also, the G7 summit will be watched today, which also will imbue some sentiments in further direction. Currently the pair is trading at 1.1208 with its support and resistance levels located at 1.1153 and 1.1253 marks.


GBP/USD remains in a narrow range, trying to hold on 1.46 level. The pair moved away from yesterdays multi-week highs, as risky assets still influence traders. Today pound bulls took a breath as the market remains under the influence of the recent Brexit polls results showing 52% in favour of the remain camp, while 41% opponent voted to leave EU’s membership.
Today Britain will provide CBI Industrial Trends Orders, while the US will show existing home sales report with FOMC member D. Tarullo’s speech. Now the pair is trading at 1.4604, with todays support and resistance levels located at 1.4550 and 1.4726 marks.


USD/CHF continues its seven-day bullish trend as the dollar bulls refuse to give-up. The pair continues to expand its positions above 0.99 level, as the pair still remains under the influence of hawkish FOMC meeting minutes. Expected that the pair will continue to move in north direction today, as traders are still interested in risky assets. Also the pair will be influenced by data provided by the United States later this day. Now the pair trades at 0.9904 spot, with an approximate support and resistance levels at 0.9860 and 0.9971.


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