GBPUSD Defies Gravity, Looks to Trade Higher Moving Ahead

Key Highlights British Pound traded higher Intraday against the US Dollar, and broke a critical resistance area. GBPUSD is facing a major resistance on the upside around 1.5550 where sellers might struggle in the near term. In New Zealand, the Business NZ PMI released by the Business NZ posted a minor decrease from the previous revised reading of 51.7 to 51.5 in April 2...
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USDCHF Higher Post US Retail Sales Data Increasing 1.2%

Key Highlights US Dollar continued to gain traction against the Swiss Franc, as the economic releases in the US were on the impressive side. US Retail Sales report released by the US Census Bureau registered an increase of 1.2% in May 2015, compared to the expectation of a 0.7% increase. US Initial Jobless Claims released by the US Department of Labor posted a reading o...
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Aussie Dollar Facing an Uphill Task Post Employment Report

Key Highlights Aussie Dollar rocketed higher during the Asian session, as the employment report released in Australian was better-than-expected. Australian Employment Change released by the Australian Bureau of Statistics came in at 42.0K in May 2015, compared to the expectation of 11.0K. AUDJPY pair surged higher after the report was published, but facing an important ...
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NZDUSD – Is This a Real Break after Struggling?

Key Highlights New Zealand Dollar performed well against the US Dollar to trade above an important resistance trend line. If NZDUSD buyers stay in control, a move towards 0.7200 is possible in the near term. New Zealand Electronic Card Retail Sales as reported by Statistics New Zealand registered an increase of 1.2% in May 2015, compared with the preceding month. NZD...
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EURJPY – Double Top in Making?

Key Highlights Euro moved lower against currencies such as the US dollar and the Japanese Yen and looks set for a downside rally. EURJPY is likely forming a double top pattern, which might take the pair lower in the near term. Euro Zone Gross Domestic Product released by the Eurostat increased by 0.4% in the first quarter of 2015, matching the market expectation. In ...
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AUDUSD Primed For Lift-off

Key Highlights US Dollar weakness pushed pairs like AUDUSD and NZDUSD higher. AUDUSD traded higher and settled above the 200 moving average (hourly) to set the pace for the next leg. Australian Home Loans released by the Australian Bureau of Statistics increased by 1% in April 2015 whereas the market was expecting a decline of 2%. Chinese Consumer Price Index is relea...
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USDCAD Next Leg Lower Underway

Key Highlights US Dollar moved lower against the Canadian Dollar and broke a crucial support zone. Canadian Building Permits released by the Statistics Canada increased by 11.6% in April 2015, compared with the preceding month. Canadian Housing Starts report was also released, which posted a reading of 201.7K, compared with the forecast of 185.0K in May 2015. USDCAD ...
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EURUSD Bull Run Has Come to an End Ahead of DEU Trade Report

Key Highlights Euro lost most of its gains this past week and ended the week lower against the US Dollar. EURUSD broke an important support area, which suggests that sellers are in control. Today, the German Trade Balance report will be released by the Statistisches Bundesamt Deutschland, which might ignite moves in EURUSD. In Japan earlier today, the Gross Domestic P...
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AUDNZD Targets Fresh Lows

Key Highlights New Zealand Dollar gained traction recently against the Aussie Dollar, and looks set for more gains. AUDNZD pair is trading around the key support area, which if broken might ignite healthy losses. Australian HIA/AiG Performance of Construction Index released by the Australian Industry Group and the Housing Industry Association increased from 47.0 to 47.8...
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A downward drift for AUDUSD

Key Highlights Australian Dollar after trading towards 0.7800 against the US Dollar failed to maintain gains and looks set for a move lower. In the US, the Challenger Job Cuts was released by Challenger, Grey & Christmas, which posted a reading of 41.034K in May 2015, lower compared with the last reading of 61.582K. US Initial Jobless Claims were also published by t...
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