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Wednesday, June 8^th  

GBP/USD seems to be cooled off after yesterdays volatile session. Despite improving risky sentiments, the pair is keeping its bullish mood, as dollar is still weak across the board. Currently traders have taken a break before UK Manufacturing Productions, with coming ahead US Crude Oil Inventories. At the moment the pair is trading at 1.4555 with todays support and resistance levels located at 1.4433 and 1.4656.

EUR/USD is keeping its narrow range just above 1.1330 level since beginning of this week. In light of empty data calendar from Euroland with only Crude Oil Inventories from US and broad based dollars weakness, the pair most likely will reach 1.14 level very soon. At the moment the pair is trading at 1.1363 with support and resistance levels at 1.1317 and 1.1421.

NZD/USD is testing new five-week highs near 0.70 level. Today the pair is trading under bullish pressure on the back of broad based dollars weakness with upcoming RBNZ monetary policy meeting. Expected that after surprising the markets in March by lowering benchmark interest rates, this time RBNZ will leave the rate in flat. Also US will release Crude Oil Inventories later this day. At the moment the pair is trading at 0.6983 back from 0.7005 level. Todays support and resistant levels for the pair are located at 0.6862 and 0.7096.

USD/CAD is testing new monthly lows in the 1.2730 area. Today loonie is trading under bid tone as dollar is still suffering after disappointing NFP with renewed buying pressure of the oil on the back of decreased Weekly Crude Oil Stocks by API released yesterday. Today ahead are Housing Starts and Building Permits from Canada, with Crude Oil Inventories from US. Currently the pair is trading at 1.2737 with todays approximate support and resistance levels located at 1.2666 and 1.2874.

Your European ECN-broker,

Forex.ee