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Daily Analysis of USDX for April 25, 2016 USDX is doing a bullish consolidation and the overall scenario is turning sideways, as the Index is still trapped inside a range below the resistance level of 95.18. However, if USDX does a breakout above it, then we can expect another rally toward the 95...

EUR/JPY Attempts Tepid-Bounce to 125, IFO Eyed The cross in the EUR/JPY is seen reversing a minor portion of Friday’s rally to fresh two-week highs and now drops below 125 handle ahead of the German IFO surveys. EUR/JPY keeps the red ahead of IFO The EUR/JPY pair now drops -0.40% to 124...

Daily Analysis of GBP/USD for April 25, 2016 The Cable is trying to break a key supply zone in the upside trend, as it has been trading above the support level of 1.4318, which served as a strong bottom in a short-term basis...

AUD/USD Bullish Above 0.7597 – Commerzbank In opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair’s bullish stance remains intact above 0.7597. Key Quotes “AUD/USD’s recent rally has taken it close to our .7850 target level (38.2% retracement of move down from 2014), to...

EUR/GBP Trims Losses, Fails Ahead of 0.7800 After bottoming out near 0.7750 in early trade, the subsequent better tone in euro has helped EUR/GBP to erode the pullback and recover the 0.7780 area. EUR/GBP attention to IFO The sharp decline from cycle highs near 0...

GBP/CAD Reclaims 1.8300 Mark The GBP/CAD pair has been steadily recovering from its lowest level since Jan. 2015 and has now moved back above 1.8300 round figure mark. After registering declines for five consecutive weeks, the pair last week witnessed some minor recovery...

Gold Rebounds in Asia Amid Negative Equities Gold is seen catching a fresh bid-wave as we progress towards the early European trades, with the bulls benefiting from poor sentiment amid lower stocks and oil prices. Gold picks up strength ahead of Fed decision Currently, gold advances 0...

AUD/USD: Expect a Sizeable Decline in H2 2016 - Westpac Sean Callow, Research Analyst at Westpac, continues to expect a sizeable decline in AUD/USD in H2 2016 but it is hard to make the case for a reversal short term...

NZD/USD Holding Steady Near 0.6850 but Seems Vulnerable to Further Downside Following a 3-day of continuous sharp declines and breaking below its immediate support near 0.6880 level, the NZD/USD pair bounced a bit to 0.6867 before cooling-off back to 0...

GBP/USD Hits Fresh 6-Week Highs at 1.4470, Then Retreats The GBP/USD pair kicked-off the week on a stronger footing and went on to hit fresh six-month highs at 1.4470 in early Asia, before finding fresh offers at higher levels and now heads closer towards 1.44 handle. GBP/USD back near 1...

EUR/USD Firm Near 1.1250 ahead of IFO The single currency has started the week on a firmer note vs. the dollar, taking EUR/USD to the mid-1.1200s ahead of the opening bell in Euroland. EUR/USD focus on IFO Spot has managed to come back from overnight troughs near 1...

USD/CNY Forecast to be Lowered – Commerzbank Analyst, Zhou Hao at Commerzbank, suggests that on the Chinese policy front, given the uncertain growth outlook, they still expect the PBoC to cut the policy rates by 25bps in Q2, and broader easing policies will be maintained in China over the remaind...

USD/JPY Reverses Sharply, Attacks 111 Again The USD bears fought back control in the Asian trades at the start of the big week ahead, sending USD/JPY sharply lower from two-week tops reached just shy of 112 barrier last Friday. USD/JPY sold-off ahead of 50-DMA at 111...

USD/CAD: Weakness Has Further to Go - Westpac Richard Franulovich, Research Analyst at Westpac, suggests that the weakness in USD/CAD has further to go, a potentially higher March CPI this week thanks to stronger energy prices may well be a catalyst...

Guide to Today's Important Data and Events Few economic dockets scheduled for today and all with low to medium risks associated. Data Released so far – Japan – Corporate service prices up 0.2% y/y in February. Upcoming –...

FxWirePro: Indian Rupee Hits Fresh 2-Week Low Against US Dollar, Good to Buy on Dips USD/INR is currently trading at 66.70 marks. It made intraday high at 66.71 and low at 66.65 levels. Intraday bias remains bullish till the time pair holds key support at 66.47 marks. A daily close below 66...

FxWirePro: NZD/USD Holds Minor Support at 0.6835, Good to Short Breaks Below NZD/USD has broken strong trendline support at 0.6835 on Friday's trade and is currently trading at 0.6858. The pair is extending declines after upside was capped by channel top at 0...

Brazil: Now what? – Commerzbank Analyst, Peter Kinsella at Commerzbank, suggests that the last week’s vote in Brazil’s lower house of Congress starts the impeachment process in earnest. Key Quotes “Investors can expect a Temer led administration by early May...

US: FOMC and Q1GDP are Key Highlights – Westpac Richard Franulovich, Research Analyst at Westpac, suggests that the US data pace picks up notably this week, the FOMC and the first estimate on Q1 GDP due (Thu) the key highlights...