EUR/USD pushed higher on the back of the better-than-expected euro zone’s PMI and ZEW economic activity indices. The pair met resistance at 1.2560 as we speak. Push higher would open the way to 1.2600 and then, potentially, to 1.2900. On Wednesday euro zone is scheduled to release final November CPI (forecast: unchanged at +0.3%). However, the pair will mostly be driven by the Fed’s meeting expectations.
GBP/USD rose as the USD was broadly weaker on Tuesday plus the British banks stress tests results were quite encouraging. Lower-than-expected British consumer prices have tempered the advance: so far the bulls have failed to overcome resistance is in the 1.5800 area. Further resistance is at 1.5830 and 1.5875. Tomorrow the UK is expected to release rather positive labor market data. Also watch the publication of the Bank of England’s meeting minutes (09:30 GMT). Support is at 1.5650 and 1.5600. The Fed’s meeting will be decisive for the pair.
USD/JPY tested levels below 115.60: yen is in demand as a safe haven. The pair’s tested the 2-month support line and is vulnerable for a decline to 113.50 (50% Fibo of the Oct.-Dec. advance; 55-day MA). Resistance is at 117.30 and 117.95.
AUD/USD tested the 0.8200 mark to the downside, but remains resistive for now. There are no releases scheduled in Australia for tomorrow, to the pair will also depend on the Fed. Break below 0.8200 could open the way to new lows of 0.8060. The medium-term picture remains bearish.
GBP/USD rose as the USD was broadly weaker on Tuesday plus the British banks stress tests results were quite encouraging. Lower-than-expected British consumer prices have tempered the advance: so far the bulls have failed to overcome resistance is in the 1.5800 area. Further resistance is at 1.5830 and 1.5875. Tomorrow the UK is expected to release rather positive labor market data. Also watch the publication of the Bank of England’s meeting minutes (09:30 GMT). Support is at 1.5650 and 1.5600. The Fed’s meeting will be decisive for the pair.
USD/JPY tested levels below 115.60: yen is in demand as a safe haven. The pair’s tested the 2-month support line and is vulnerable for a decline to 113.50 (50% Fibo of the Oct.-Dec. advance; 55-day MA). Resistance is at 117.30 and 117.95.
AUD/USD tested the 0.8200 mark to the downside, but remains resistive for now. There are no releases scheduled in Australia for tomorrow, to the pair will also depend on the Fed. Break below 0.8200 could open the way to new lows of 0.8060. The medium-term picture remains bearish.
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