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Friday, July 22nd
GBP/USD
Current price: 1.3268 (0.3%)
Session range: Open 1.3233 High 1.3289 Low 1.3210
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3102 R. 1.3342
Main drivers: Prelim. UK Manufacturing PMI, Prelim. UK Services PMI, Prelim. US Manufacturing PMI
Overview: The pound is trading with slightly better mood vs. dollar this morning keeping its spot above the level of 1.32 on the back of broadly based dollars’ weakness. However, poor UK’s Retail Sales are still limiting the pairs’ upside momentum.
EUR/USD
Current price: 1.1020 (0.0%)
Session range: Open 1.1026 High 1.1036 Low 1.1016
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.0942 R. 1.1101
Main drivers: Prelim. EU Manufacturing PMI, Prelim. EU Services PMI, Prelim. US Manufacturing PMI
Overview: Currently the pair is running in a flat mode amidst lack of direction. Yesterday as it was expected ECB left its Interest Rate in flat triggering pairs upsurge to level of 1.1060. However, the spike faded quickly as M.Draghi has failed to provide confidence in his press conference about implications of recent UK’s referendum.
USD/JPY
Current price: 105.92 (0.1%)
Session range: Open 105.81 High 106.28 Low 105.56
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 104.16 R. 108.34
Main drivers: Prelim. US Manufacturing PMI
Overview: The yen is consolidating its gains this morning keeping range below the level of 106. Yesterday the pair performed a sharp fall for 200 pips after BoJ Governor H.Koruda denied rumors of a possible further monetary easing by the central bank. However, the pair has failed to recover erasing a short spike witnessed this morning as a new wave of risk-off sentiment with take-profit actions are weighing the pair.
AUD/USD
Current price: 0.7474 (-0.3%)
Session range: Open 0.7494 High 0.7510 Low 0.7462
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7426 R. 0.7551
Main drivers: Prelim. US Manufacturing PMI
Overview: Seems that Aussie is attempting to recover from sharp fall to region of 0.7460 triggered by RBA speculations around further rate cut in August. However, the pairs’ recovery seems to be fragile as better-than-expected US Existing Home Sales data released on Thursday is still supporting US dollar.
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