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Wednesday, August 17th
EUR/USD
Current price: 1.1264 (0.1%)
Session range: Open 1.1279 High 1.1291 Low 1.1255
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1114 R. 1.1404
Main drivers: FOMC Meeting Minutes
Overview: Today euro is consolidating part of its massive gains after extreme rally witnessed day before. Currently the pair is hovering in the region of 1.1260 retreating from two-month highs posted at 1.1323 as traders are performing profit-taking actions lately breathing in fresh positive tone to US currency.
GBP/USD
Current price: 1,3040 (0,0%)
Session range: Open 1.3046 High 1.3072 Low 1.3007
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2812 R. 1.3166
Main drivers: UK Average Earnings Index +Bonus, UK Claimant Count Change, FOMC Meeting Minutes
Overview: The pair is erasing small part of its gains as sentiments around US dollar are regaining smile across the board. Yesterday the pair performed a massive rally on the back of poor inflation reports seen from US side additionally boosted by positive data from UK refreshing its five-day highs above the level of 1.3000.
NZD/USD
Current price: 0.7252 (-0.4%)
Session range: Open 0.7280 High 0.7323 Low 0.7245
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7154 R. 0.7366
Main drivers: US Crude Oil Inventories, FOMC Meeting Minutes
Overview: Today Kiwi has continued its rally expanding its weekly highs beyond the level of 0.7300 with the highest point witnessed at 0.7322 as upbeat NZ jobs report has reactivated NZD bulls. However, the pair has faded the spike quickly and now is trading near the region of 0.7250 as lower oil prices coupled with ongoing speculations of RBNZ about further rate cut are still suppressing the pair.
USD/CHF
Current price: 0.9627 (0.1%)
Session range: Open 0.9619 High 0.9642 Low 0.9607
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9500 R. 0.9792
Main drivers: FOMC Meeting Minutes
Overview: Currently Swiss franc is losing a grip sending the pair from nearly two-month lows under the level of 0.9600 to today highs posted in the region of 0.9640 after massive rally witnessed yesterday. Following Tuesday’s sharp drop dollar is attempting to recover against its major peers fueled by yesterday’s hawkish comments of FOMC member B.Dudley which provided fresh cues of further Fed rate-hike.
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