The EUR/USD is trading sideways between 1.2840 and 1.2900. One sharp movement was seen during the day when economic data was released causing the pair to increase and tested resistance. Manufacturing and Service PMI’s were released and despite pointing to a downtrend in the economy, the actual readings were better than expected.
The pair could now be affected by the upcoming Ifo Business Climate. The release is predicted to show the lowest level since April 2013 and will come out at 8AM GMT. Support is found at 1.2815 and resistance is at 1.2900.
Yesterday, the GBP/USD continued to move in a slight upwards trend and bounced off its resistance at 1.6415 several times. The pair did not react to disappointing U.K. mortgage approvals as U.S. strikes in Syria overshadowed the data and caused the U.S. Dollar to depreciate, pushing the pair upwards. Resistance was tested a second time when FOMC member Korcherlakota stated that inflation will not reach the 2% target within the next four years.
Today, we should pay attention to the New Home Sales data which will be released at 2PM (GMT). The reading is expected to come out slightly higher than in the previous 2 months and therefore we might see the Dollar strengthen slightly. The trend is sideways. Support is found at 1.6280 and resistance at 1.6460.
September 24, 2014 – Forex News
Today’s Hot Asset: USD
Hot asset for today: EUR/USD
EUR/USD
The EUR/USD is trading sideways between 1.2840 and 1.2900. One sharp movement was seen during the day when economic data was released causing the pair to increase and tested resistance. Manufacturing and Service PMI’s were released and despite pointing to a downtrend in the economy, the actual readings were better than expected.
The pair could now be affected by the upcoming Ifo Business Climate. The release is predicted to show the lowest level since April 2013 and will come out at 8AM GMT. Support is found at 1.2815 and resistance is at 1.2900.
GBP/USD
Yesterday, the GBP/USD continued to move in a slight upwards trend and bounced off its resistance at 1.6415 several times. The pair did not react to disappointing U.K. mortgage approvals as U.S. strikes in Syria overshadowed the data and caused the U.S. Dollar to depreciate, pushing the pair upwards. Resistance was tested a second time when FOMC member Korcherlakota stated that inflation will not reach the 2% target within the next four years.
Today, we should pay attention to the New Home Sales data which will be released at 2PM (GMT). The reading is expected to come out slightly higher than in the previous 2 months and therefore we might see the Dollar strengthen slightly. The trend is sideways. Support is found at 1.6280 and resistance at 1.6460.
Related Posts: