DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 24 Apr 2015 01:00GMT
EUR/USD - 1.0828
Yesterday's intra-day rally from 1.0666 to 1.0846 confirms pullback from last Friday's high of 1.0849 has ended at 1.0660 Tuesday and consolidation with upside bias remains, break of said resistance would signal up move from last week's low at 1.0521 to retrace early fall from 1.1062 has resumed and extend gain to 1.0887 and then towards 1.0940/50 later.
On the downside, only below 1.0732/33 would prolong choppy trading inside near term range of 1.0849-1.0660 and may yield weakness to 1.0690/00 but aforesaid support area at 1.0660-67 should remain intact.
Recommended Content
Editors’ Picks
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.
Google starts indexing Bitcoin addresses
Bitcoin address data is live on Google search results after users realized on Thursday that the tech giant started indexing Bitcoin blockchain data. However, mixed reactions have followed the tech giant's reversed stance on the cryptocurrency.
A Hollywood ending for fourth quarter GDP
The latest revisions put Q4 GDP at 3.4%, the second fastest quarterly growth rate in two years. Much of the upside was attributable to stronger consumer spending, yet fresh profits data affirmed it was a good quarter for the bottom line as well with profits up by the most since the Q2-2022.