On Wednesday, the EUR/USD pair once again peaked above 1.0800 but during the Asian session the pair slipped lower below 1.0700. As we wrote before, the dollar has been very volatile due to speculation over time when the U.S. interest rates would be lifted. The U.S. Existing home sales data showed the highest level since 2013 and supported the opinion that the interest rate hike might happen in June. Today, we should pay attention to the EU Flash Manufacturing and Services PMI data which will be released at 8.00AM (GMT). The prediction is to see the highest figure in the past year which can slightly pull the pair up. Later on today, the U.S. Flash manufacturing will come out. The trend is sideways. The support line is found at 1.0620 and resistance line at 1.0850.
Yesterday, the GBP/USD pair jumped to 1.5080 as the Bank of England Official Bank rate report came out. Even though the votes came out as expected and left the bank rate unchanged, the remarks of the members spurred the British pound. Monetary Policy Committee members agreed that the recent economic data are strong and the economic recovery should continue. Such hawkish remarks immediately pull the pair up. During the Asian session, the pair started to decrease to recent 1.5000. The pair might do a price correction below 1.5000 later on today, if the upcoming U.S. data comes out stronger than expected. At 8.30AM (GMT) the U.K. Retail Sales data will be published and due to the fact that the forecast is to see lower figure than last month, the pair might dip below the 1.5000 before the American session. The trend is slightly bearish. The support line is found at 1.4800 and resistance line at 15080.
April 23, 2015 – Forex News
Hot asset for today: USD
On Wednesday, the EUR/USD pair once again peaked above 1.0800 but during the Asian session the pair slipped lower below 1.0700. As we wrote before, the dollar has been very volatile due to speculation over time when the U.S. interest rates would be lifted. The U.S. Existing home sales data showed the highest level since 2013 and supported the opinion that the interest rate hike might happen in June. Today, we should pay attention to the EU Flash Manufacturing and Services PMI data which will be released at 8.00AM (GMT). The prediction is to see the highest figure in the past year which can slightly pull the pair up. Later on today, the U.S. Flash manufacturing will come out. The trend is sideways. The support line is found at 1.0620 and resistance line at 1.0850.
Yesterday, the GBP/USD pair jumped to 1.5080 as the Bank of England Official Bank rate report came out. Even though the votes came out as expected and left the bank rate unchanged, the remarks of the members spurred the British pound. Monetary Policy Committee members agreed that the recent economic data are strong and the economic recovery should continue. Such hawkish remarks immediately pull the pair up. During the Asian session, the pair started to decrease to recent 1.5000. The pair might do a price correction below 1.5000 later on today, if the upcoming U.S. data comes out stronger than expected. At 8.30AM (GMT) the U.K. Retail Sales data will be published and due to the fact that the forecast is to see lower figure than last month, the pair might dip below the 1.5000 before the American session. The trend is slightly bearish. The support line is found at 1.4800 and resistance line at 15080.
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