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Tuesday, August 16th
EUR/USD
Current price: 1.1241 (0.5%)
Session range: Open 1.1183 High 1.1250 Low 1.1177
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1129 R. 1.1264
Main drivers: German ZEW Economic Sentiment, EU ZEW Economic Sentiment, US Building Permits, US Core CPI
Overview: Today the major is refreshing its two-month highs last seen since “Brexit” vote. The pair is accelerating its upsurge momentum this morning breaking through the level of 1.1200 in early Europe ahead of ZEW Economic Sentiment Survey’s from German and Euroland. The expectations that German ZEW Economic Sentiment will recover to 1.8 after sharp drop of 6.8 are forcing the Euro to move higher against US currency reaching the level of 1.1250.
GBP/USD
Current price: 1.2911 (0.2%)
Session range: Open 1.2880 High 1.2927 Low 1.2877
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.2817 R. 1.2977
Main drivers: UK CPI, UK Average Earnings Index, US Building Permits, US Core CPI
Overview: Pound is trading on a firm note today moving higher against its American counterpart breaking through the level of 1.2900 ahead of UK major releases. Seems that pound is recovering smile this Tuesday as the offered tone behind the dollar is gathering pace. However, the market participants are staying cautious in front of risky events scheduled for today limiting the pair’s movement range.
AUD/USD
Current price: 0.7710 (0.5%)
Session range: Open 0.7673 High 0.7716 Low 0.7653
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7612 R. 0.7722
Main drivers: US Building Permits, US Core CPI
Overview: Currently the pair is trading with upside momentum despite more dovish RBA meeting minutes. The Aussie bulls were rescued by higher gold prices seen this morning sending the pair to break through the level of 0.7700. Today the pair will track the global market’s sentiments until NY session where significant dataflow from US side will set up its further direction.
USD/CHF
Current price: 0.9685 (-0.8%)
Session range: Open 0.9727 High 0.9738 Low 0.9641
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9662 R. 0.9778
Main drivers: US Building Permits, US Core CPI
Overview: The pair drops sharply refreshing this month minimums on the back of renewed risk-off sentiment due to significant releases coming ahead today. Moreover, fresh sell-off around US currency witnessed last hours additionally is accelerating downside momentum of the pair.
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