On Wednesday the EUR/USD pair has been moving in a narrow range between 1.3520 and 1.3560. As we wrote earlier, the pair is expected to range in the 1.35 – 1.36 area for a while till the market will get new impulse. The impulse can some today from the economic data. At 9.00AM (GMT) the EU Industrial Production will be posted and is expected to show 0.5% increase. Reading below the expectation can test the support at 1.3500. At 12.30PM (GMT) the U.S. Retail Sales comes out and might bring some volatility. The movement is sideways. The support is lying at 1.3500 and resistance at 1.3660.
The GBP/USD pair almost erased previous drop from Tuesday and yesterday climbed slightly above 1.6800. The pair reacted on very strong U.K. Claimant Count Change data which showed that 27.4K less people asked for unemployment benefits during May. The U.K. economy has been recovering in a nice peace and in May we saw the pair almost on 1.70 level. The pair is expected to remind high as the U.K. data coming out strong. Today we should pay attention to U.S. Retail Sales data at 12.30PM (GMT). The trend is slightly bullish. The support is lying at 1.6730 and resistance at 1.6815.
June 12, 2014 – Forex News
Hot Asset For Today: GBP/USD
On Wednesday the EUR/USD pair has been moving in a narrow range between 1.3520 and 1.3560. As we wrote earlier, the pair is expected to range in the 1.35 – 1.36 area for a while till the market will get new impulse. The impulse can some today from the economic data. At 9.00AM (GMT) the EU Industrial Production will be posted and is expected to show 0.5% increase. Reading below the expectation can test the support at 1.3500. At 12.30PM (GMT) the U.S. Retail Sales comes out and might bring some volatility. The movement is sideways. The support is lying at 1.3500 and resistance at 1.3660.
The GBP/USD pair almost erased previous drop from Tuesday and yesterday climbed slightly above 1.6800. The pair reacted on very strong U.K. Claimant Count Change data which showed that 27.4K less people asked for unemployment benefits during May. The U.K. economy has been recovering in a nice peace and in May we saw the pair almost on 1.70 level. The pair is expected to remind high as the U.K. data coming out strong. Today we should pay attention to U.S. Retail Sales data at 12.30PM (GMT). The trend is slightly bullish. The support is lying at 1.6730 and resistance at 1.6815.
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