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Thursday, August 18th
GBP/USD
Current price: 1.3118 (0.6%)
Session range: Open 1.3042 High 1.3132 Low 1.3035
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2920 R. 1.3204
Main drivers: UK Retail Sales, Philadelphia Fed Manufacturing Index
Overview: The sterling has failed to keep its positions against US currency after dovish FOMC Meeting Minutes as fresh risk-aversion sentiments are limiting pair’s upward momentum forcing the pair to step down from its daily highs. However, in light of broad based US dollar’s weakness the pair will keep its bullish tone during this day.
EUR/USD
Current price: 1.1325 (0.3%)
Session range: Open 1.1289 High 1.1331 Low 1.1283
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1205 R. 1.1357
Main drivers: EU CPI, Philadelphia Fed Manufacturing Index
Overview: Today euro is trading on firm note against its American counterpart expanding its post-Brexit highs reached near the region of 1.1300. Yesterday the dollar met fresh selling pressure after dovish FOMC Meeting Minutes where Fed members showed data depending tone regarding further rate-hike leaving the dollar in bears’ hands.
AUD/USD
Current price: 0.7704 (0.6%)
Session range: Open 0.7654 High 0.7723 Low 0.7649
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 0.7558 R. 0.7754
Main drivers: Philadelphia Fed Manufacturing Index
Overview: Currently the bird is consolidating its positions gained after positive data from Australian labor market. The pair has risen for about 50 pips and now is wobbling near the level of 0.7700 after Australian Employment Change has shown upbeat data this morning. Moreover, broad based US dollar’s weakness following the release of Fed minutes that disappointed hawks additionally boosted Australian bulls.
USD/JPY
Current price: 100.03 (-0.2%)
Session range: Open 100.25 High 100.34 Low 99.64
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 99.35 R. 101.61
Main drivers: Philadelphia Fed Manufacturing Index
Overview: The dollar-yen pair had followed the global market’s sentiment and fell to fresh lows under the level of 100.00 last seen since “Brexit” vote. Today the dollar is experiencing sharp losses against its major peers as FOMC Meeting Minutes have shown increased uncertainty amid the Fed members regarding a Fed rate-hike in September. Moreover, today Japanese currency will keep its bid tone as fresh risk-off sentiment has hit the market.
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