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Friday, July 15th
GBP/USD
Current price: 1.3406 (0.5%)
Session range: Open 1.3343 High 1.3482 Low 1.3324
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2939 R. 1.3676
Main drivers: Speech of BoE Gov M.Carney, US CPI, US Retail Sales.
Overview: The GBP/USD tested two-week high this morning winged by BoE Interest Rate Decision to leave a rate in flat, thereby squashing markets expectations of a rate cut in July. Also, part of gains of the cable could be related to improved risk appetite fueled by better-then-expected Chinese macro data released this morning.
USD/JPY
Current price: 105.87 (0.5%)
Session range: Open 105.34 High 106.33 Low 105.04
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 103.11 R. 107.07
Main drivers: US CPI, US Retail Sales.
Overview: The pair is still moving in north direction flirting with fresh this month highs in 106.30 area mainly driven by better risk sentiments. However, sharp pull back during this day could be related to profit-taking actions performed by market participants.
EUR/USD
Current price: 1.1147 (0.3%)
Session range: Open 1.1119 High 1.1150 Low 1.1101
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1043 R. 1.1204
Main drivers: EU CPI, US CPI, US Retail Sales.
Overview: The pair has been keeping its bullish trend since Monday on the back of prevailing risk-on sentiment across the market. Yesterday the pair also responded on BoE decision to leave a rate as it was spiking the level 1.1170 last seen seven days ago. However, the spike faded quickly sending the pair to its normal range near 1.1100 level.
AUD/USD
Current price: 0.7652 (0.3%)
Session range: Open 0.7631 High 0.7678 Low 0.7607
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7563 R. 0.7687
Main drivers: US CPI, US Retail Sales.
Overview: The pair spiked its over than two-month high at 0.7676 level in response to the upbeat Chinese data. However, the pair has lost its upside momentum and now is trading in flat range near 0.7630 as traders are awaiting for major data releases from US.
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