Forex Daily Analysis (2015.07.10)

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Forex Daily Analysis (2015.07.10)

Source: FX Direct Forex Broker (Review and Forex Cashback)

EUR USD

This morning at 09:40 GMT, the EUR is trading at 1.1162 against the USD, 1.05% higher from the New York close. Data released showed that Germany’s wholesale price index slid on a monthly basis in June. This morning, the pair traded at a high of 1.1181 and a low of 1.1045. The Euro traded 0.1% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1046. The pair is expected to its find support at 1.1042 and its first resistance at 1.1231.

GBPUSD

At 09:40 GMT, the pair is trading at 1.5491, with the Pound trading 0.74% higher against US Dollar from the New York close, after UK’s goods trade deficit unexpectedly narrowed in May. The pair witnessed a high of 1.5502 and a low of 1.5364 during the session. Yesterday, the Pound traded 0.06% lower against the US Dollar in the New York session and ended at 1.5376. Immediate downside, the first support level is seen at 1.5389, while on the upside, the first resistance level is situated at 1.5547.

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 122.30 against the Yen, 0.61% higher from the New York close. In economic news, Japan’s consumer confidence index edged up in June, at par with market expectations. During the session, the pair traded at a high of 122.39 and a low of 121.47. Yesterday, the US Dollar traded marginally higher against the Yen in the New York session and ended at 121.56. The pair is expected to its find support at 121.54 and its first resistance at 122.73.

USDCHF

The US Dollar is trading at 0.9376 against the Swiss Franc at 09:40 GMT this morning, 1.09% lower from the New York close. Amid no economic data in Switzerland today, market participants would focus on the nation’s ZEW economic survey data, scheduled next week. The pair traded at a high of 0.9488 and a low of 0.9363 this morning. Yesterday, the USD traded 0.32% lower against the CHF in the New York session and ended at 0.9479. The pair is expected to its find support at 0.9320 and its first resistance at 0.9474.

USDCAD

The pair is trading at 1.2700 at 09:40 GMT this morning, with the USD trading 0.05% lower against CAD from the New York close. The pair traded at a high of 1.2726 and a low of 1.2671 this morning. The US Dollar advanced against the Canadian Dollar in the New York session yesterday, closing 0.16% higher at 1.2706. In economic news, the seasonally adjusted housing starts in Canada rose more than expected and hit an 11-month high level in June. The pair is expected to its find support at 1.2661 and its first resistance at 1.2742.

AUDUSD

The pair is trading at 0.7472 at 09:40 GMT this morning, with the Australian Dollar trading 0.25% higher against US Dollar from the New York close. In economic news, home loan approvals in Australia retreated more than forecasted in May. This morning, the pair traded at a high of 0.7497 and a low of 0.7447. The Australian Dollar traded a tad lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7453. The pair is expected to its find support at 0.7424 and its first resistance at 0.7509.

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