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Wednesday, July 27th
USD/JPY
Current price: 105.66 (1.0%)
Session range: Open 104.65 High 106.56 Low 104.59
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 102.92 R. 106.72
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: USD/JPY is experiencing high volatility this morning after Prime Minister of Japan S.Abe has confirmed the size of the stimulus package at 28 trillion yen. However, the final decision of the size of the stimulus package will be taken next week. Most likely, today the pair will stay in condition of high volatility amid ongoing headlines from Japanese market.
GBP/USD
Current price: 1.3112 (-0.1%)
Session range: Open 1.3131 High 1.3163 Low 1.3104
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2999, R 1.3239
Main drivers: UK GBP, US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: After a minor pullback witnessed this morning the pair has found support near the level of 1.3100. Currently the pair is running in quite mode ahead of the UK preliminary GDP report. Expected that UK’s economy didn’t grow up in this quarter on the back of Brexit vote.
EUR/USD
Current price: 1.0987 (0.0%)
Session range: Open 1.0986 High 1.1003 Low 1.0979
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0946 R. 1.1050
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, FOMC Statement, Fed Interest Rate Decision
Overview: Currently the pair is wobbling near the level of 1.0990 finding resistance at 1.1000. Today US dollar is trading on a firm note against shared currency finding support in significant grow in cross with yen amid of the Japanese stimulus talks. Furthermore, all attention now shifts to upcoming Fed Interest Rate Decision that most likely will stay unchanged, also, market participants will follow up FOMC Statement hoping on more hawkish comments that will provide support to US currency.
AUD/USD
Current price: 0.7469 (-0.5%)
Session range: Open 0.7502 High 0.7568 Low 0.7458
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 0.7421 R. 0.7579
Main drivers: US Pending Home Sales, US Core Durable Goods Orders, US Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision
Overview: Australian CPI has met expectations at 0.4% sending the pair to refresh 6-day highs this morning. However, the spike faded quickly as possibility of further rate cut by the RBA in August still persists. Now all focus shifts to FOMC monetary policy decision scheduled on NA session that will set up further direction for the pair.
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