Market Update (15/7/2020): EUR/USD, GBP/USD, USD/JPY, AUD/USD
Better than expected data from Germany pushed EUR to reclaim its losses to USD yesterday. Bouncing back from a session low of 1.1185 to peak at 1.1275. Today’s market opened with 1.1258 and rode the wave to 1.1266.
Afterwards, it fell slightly to 1.1243 and gradually recovered to 1.1259. Today’s Support is at 1.1199 and Resistance
Germany’s manufacturing PMI data and lower unemployment numbers, restored global risk appetite, paired with weak US employment numbers provides EUR/USD this bullish outlook. The only concern now that can largely impact this pairing is the US’s FOMC meeting minute.
Thu – US Initial Jobless Claims, Nonfarm Payrolls, Unemployment Rate
GBP/USD opened with 1.2473 and fell to 1.2463 after testing the resistance at 1.2490, it later recovers to linger around 1.2480 area. Today’s Support is at 1.2393 and Resistance at 1.254
GBP had shown strong signs of regaining loss grounds these two days. Climbing back to the 1.2450 it lost to USD last week, but the climb is losing its momentum and the pair is forecasted to fluctuate around 1.18 to 1.50 area unless any breakthrough on the UK-EU trade deal.
The pair opened with 107.51, a small recovery from yesterday’s fall. Then it fluctuates around 107.33 to 107.55 area. Today’s Support is at 107.17 and Resistance at 107.97.
While global PMIs’ promising data provided an optimistic outlook for investors and risk-takers. Another spike of coronavirus cases this morning, and China’s announced stipulations of US media working in their country had derailed the risk-taking mood in the morning, supporting the demand of USD as the safe-haven investment again.
AUD/USD opened with 0.6916 and continued on the rise to 0.6925 area after a shortfall to 0.6904 that quickly recovered. Today’s Support is at 0.688 and Resistance at 0.6947
Similar to the day before, the pair lacked monumental news to set a firm direction for the trend and seesawed around the 0.6900 area.
Data from trading view, fxstreet , dailyfx
Date &time according to CPM MT4 server
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