We are getting ready to sell EUR/USD targeting firstly 1.1225 and then 1.1100. On Friday there will be many data releases in the euro area, but one should certainly focus on inflation figures due at 10:00 GMT.
AUD/USD reached the 200-month MA at 0.7780. The outlook for Aussie is bearish as traders are speculating about the possibility of the Reserve Bank of Australia cutting rates next Tuesday. The next support is at 0.7650. Resistance is at 0.7950. On Friday watch Australian producer price data (00:30 GMT). NZD/USD shorts targeting 0.7150 seem like a good trade idea.
USD/CAD has surged to 1.2550. The pair is certainly very overbought and required correction at least to 1.2400. On the upside targets lie at 1.2630, 1.2680 and 1.2700. The US and Canada will release GDP data at 13:30 GMT.
GBP/USD and USD/JPY keep consolidating and the levels to watch for them remain pretty much the same. USD/JPY faces resistance at 118.80 and 119.30 and has support at 117.25/15, 116.50 and 115.85. GBP/USD has resistance at 1.5155, 1.5200, 1.5267 and support at 1.5100, 1.5050 and 1.5000. The US GDP release should bring more volatility in these pairs.
AUD/USD reached the 200-month MA at 0.7780. The outlook for Aussie is bearish as traders are speculating about the possibility of the Reserve Bank of Australia cutting rates next Tuesday. The next support is at 0.7650. Resistance is at 0.7950. On Friday watch Australian producer price data (00:30 GMT). NZD/USD shorts targeting 0.7150 seem like a good trade idea.
USD/CAD has surged to 1.2550. The pair is certainly very overbought and required correction at least to 1.2400. On the upside targets lie at 1.2630, 1.2680 and 1.2700. The US and Canada will release GDP data at 13:30 GMT.
GBP/USD and USD/JPY keep consolidating and the levels to watch for them remain pretty much the same. USD/JPY faces resistance at 118.80 and 119.30 and has support at 117.25/15, 116.50 and 115.85. GBP/USD has resistance at 1.5155, 1.5200, 1.5267 and support at 1.5100, 1.5050 and 1.5000. The US GDP release should bring more volatility in these pairs.
Recommended Content
Editors’ Picks
EUR/USD extends gains above 1.0700 on Powell’s presser
The selling bias in the Greenback gathers extra pace as Powell’s press conference is under way, lifting EUR/USD to daily tops past the 1.0700 hurdle.
GBP/USD rises above 1.2500 on weaker Dollar
The resumption of the upward pressure sends GBP/USD back above 1.2500 the figure in response to increasing selling pressure hurting the Greenback.
Gold surpasses $2,300 as Dollar tumbles
The precious metal maintains its constructive stance and trespasses the $2,300 region on Wednesday after the Federal Reserve left its FFTR intact, matching market expectations.
A new stage of Bitcoin's decline
Bitcoin's closing price on Tuesday became the lowest since late February, confirming the downward trend and falling under March and April support and the psychologically important round level.
The market welcomes the Fed's statement
The market has welcomed the Fed statement, and the S&P 500 is higher in its aftermath, the dollar is lower and Treasury yields are falling. There is still only one cut priced in by the Fed.