The stream of negative US fundamentals continues.
Asian and European trading sessions:
Euro: The published on Wednesday German IFO – business climate index for August increased and turned out to be above the forecast (106.7 against expectations of 105.7 and previous mark of 106.2). Therefore the euro received temporary support.
The EUR/USD rate reached its trading day maximums at the $1,2730 mark.
US Dollar: Negative US fundamentals continued to pressure market participants trading through the Wednesday trading as well. Durable goods orders dropped to 0.3% against the expectations of 3.0%. The US new home sales for July decreased unexpectedly for 12.4% against the forecast of 0.00%.
Swiss Frank: Swiss frank managed to strengthen against the euro as the Standard & Poor’s credit agency reduced the credit rating of Ireland to AA level. As a result, the Euro-zone budget problems became relevant again.
British Pound: The sterling traded in the range of $1,5390-$1,5450.
Australian Dollar: The released positive German fundamentals rendered support for the Australian dollar against the greenback as well.
Japanese Yen: According to the speculations, the Japanese government would undertake special measures, aimed to restrict further consolidation of the national currency. And Japanese yen reacted with a decrease.
The USD/JPY pair grew and reached Y84,50.
Oil: The oil rate rehabilitated from the previously reached minimums and traded around the $71.75 price per barrel. Publication of the weak US fundamentals pressured the oil prices again, and the price dropped to $71.12 per barrel.
Gold: The yellow metal rate managed to stabilize around the $1237.50 mark per ounce after a very volatile trading.
American trading session:
Euro: The euro managed to show temporary stabilization against the background of the released negative US real estate data.
Technical analysis for 26/08
EURUSD
The pair has dropped to Fibonacci 1.26326. If the pair breaks this level and closes below, then the pair may continue declining. The next aim maybe found at 1.25690.
Resistance: 1.27009, 1.28630, 1.30277
Support: 1.25690, 1.23907, 1.21813
GBPUSD
If the pair stays below 1.54842 the pair will decline to 1.52523. If the pair stays above 1.54842. the pair will rise to 1.56722.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The MACD divergence doesn’t let pair to decline. If 1.05139 is broken the pair will rise to 1.06179. If the pair stays below 1.02747 the pair will decline to 1.01498.
Resistance: 1.03987, 1.05139, 1.06179
Support: 1.02747, 1.01498, 0,99821
USDJPY
The MACD divergence forces pair to rise. If the pair stays above 85.161 the pair will rise to 86.246. If the pair stays below 84.260 the pair will drop to 83.330.
Resistance: 85.161, 86.246, 87.014
Support: 84.260, 83.330, 82.016
AUDUSD
The pair is aiming to test 0.87243.
Resistance: 0.89029, 0.90284, 0.92170
Support: 0.87243, 0.85760, 0.84238
Asian and European trading sessions:
Euro: The published on Wednesday German IFO – business climate index for August increased and turned out to be above the forecast (106.7 against expectations of 105.7 and previous mark of 106.2). Therefore the euro received temporary support.
The EUR/USD rate reached its trading day maximums at the $1,2730 mark.
US Dollar: Negative US fundamentals continued to pressure market participants trading through the Wednesday trading as well. Durable goods orders dropped to 0.3% against the expectations of 3.0%. The US new home sales for July decreased unexpectedly for 12.4% against the forecast of 0.00%.
Swiss Frank: Swiss frank managed to strengthen against the euro as the Standard & Poor’s credit agency reduced the credit rating of Ireland to AA level. As a result, the Euro-zone budget problems became relevant again.
British Pound: The sterling traded in the range of $1,5390-$1,5450.
Australian Dollar: The released positive German fundamentals rendered support for the Australian dollar against the greenback as well.
Japanese Yen: According to the speculations, the Japanese government would undertake special measures, aimed to restrict further consolidation of the national currency. And Japanese yen reacted with a decrease.
The USD/JPY pair grew and reached Y84,50.
Oil: The oil rate rehabilitated from the previously reached minimums and traded around the $71.75 price per barrel. Publication of the weak US fundamentals pressured the oil prices again, and the price dropped to $71.12 per barrel.
Gold: The yellow metal rate managed to stabilize around the $1237.50 mark per ounce after a very volatile trading.
American trading session:
Euro: The euro managed to show temporary stabilization against the background of the released negative US real estate data.
Technical analysis for 26/08
EURUSD
The pair has dropped to Fibonacci 1.26326. If the pair breaks this level and closes below, then the pair may continue declining. The next aim maybe found at 1.25690.
Resistance: 1.27009, 1.28630, 1.30277
Support: 1.25690, 1.23907, 1.21813
GBPUSD
If the pair stays below 1.54842 the pair will decline to 1.52523. If the pair stays above 1.54842. the pair will rise to 1.56722.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The MACD divergence doesn’t let pair to decline. If 1.05139 is broken the pair will rise to 1.06179. If the pair stays below 1.02747 the pair will decline to 1.01498.
Resistance: 1.03987, 1.05139, 1.06179
Support: 1.02747, 1.01498, 0,99821
USDJPY
The MACD divergence forces pair to rise. If the pair stays above 85.161 the pair will rise to 86.246. If the pair stays below 84.260 the pair will drop to 83.330.
Resistance: 85.161, 86.246, 87.014
Support: 84.260, 83.330, 82.016
AUDUSD
The pair is aiming to test 0.87243.
Resistance: 0.89029, 0.90284, 0.92170
Support: 0.87243, 0.85760, 0.84238