Currency Update
GBP/USD - Currently trading at 1.9630. USD strengthen against GBP ever since making the high of 1.9916 and the shocking BoE Minutes of Meeting vote of 5-4. A fall of 300 pips.
EUR/USD - This pair is still holding above 1.2900. EUR is trading weaker after the German IFO Buisness Climate data came in below the expectations. Now here USD is waiting for the 2 heavyweights data like Core Durable Goods Order and New Home Sales. So in the mean time lets see how this pair take care of 1.2900 level.
USD/JPY - After a series of high volatile of 100 pips each side and testing the low of 120 level and now this pair back into the 121 level and trading firm above the 121. And for some time this pair is consolidating between 121.30 and 121.60. In Yen stil many players worried about the interest rate.
USD/CHF - After seeing the high resistence at 1.2500 now this pair is trading above the 1.2500 level. On the charts we used to see too many spikes above the 1.2500 but without sustaining there. Once we see the strength above 1.2500 then we can see the level of 1.2700 quite faster.
USD/CAD - Trading above 1.1800 and on Monthly chart we can see the rounding bottom formation. 1.1840 is the strong resistence area for this pair.
NZD/USD - RBNZ kept it interest rate unchanged at 7.25% and they retained the hawkish stance and this hawkish stance from Bollar helped the NZD to touch the 0.7000 level and but later NZD shed all its gain to USD. And now well below 0.7000. Now trading at strong support at 0.6950 if this support takes off then it kiss 0.6925.
AUD/USD - Aussies inflation impacted AUD by 200 pips and trading at 0.7730. On weekly chart this pair is forming Dark Cloud Cover. Now 0.7900/50 is major top for this pair.
EUR/CHF - This pair gradually inching towards 1.6200 after making the low of 1.6130. Still i believe that 1.6200 will be crucial for both this pair.
EUR/JPY - Yen is still trading bit stronger against Euro and now trading below 157, earlier Yen was stronger by nearly 300 pips, on that occasion Yen made the high of 155.80.
GBP/JPY - This pair keep finding high resistence at 239. At one stage GBP was weaker by 500 pips against Yen after making the high of 241.5 and the low 236.4.
AUD/NZD - Really this pair looking very interesting, coz AUD is trading weaker after it soft inflation data and riding fear of no rate hike on Feb 06 and NZD is getting harder against AUD after the hawkish stance from RBNZ Governor Bollard. Currently trading just above the 1.1100 after making the low just below 1.050
EUR/USD - This pair is still holding above 1.2900. EUR is trading weaker after the German IFO Buisness Climate data came in below the expectations. Now here USD is waiting for the 2 heavyweights data like Core Durable Goods Order and New Home Sales. So in the mean time lets see how this pair take care of 1.2900 level.
USD/JPY - After a series of high volatile of 100 pips each side and testing the low of 120 level and now this pair back into the 121 level and trading firm above the 121. And for some time this pair is consolidating between 121.30 and 121.60. In Yen stil many players worried about the interest rate.
USD/CHF - After seeing the high resistence at 1.2500 now this pair is trading above the 1.2500 level. On the charts we used to see too many spikes above the 1.2500 but without sustaining there. Once we see the strength above 1.2500 then we can see the level of 1.2700 quite faster.
USD/CAD - Trading above 1.1800 and on Monthly chart we can see the rounding bottom formation. 1.1840 is the strong resistence area for this pair.
NZD/USD - RBNZ kept it interest rate unchanged at 7.25% and they retained the hawkish stance and this hawkish stance from Bollar helped the NZD to touch the 0.7000 level and but later NZD shed all its gain to USD. And now well below 0.7000. Now trading at strong support at 0.6950 if this support takes off then it kiss 0.6925.
AUD/USD - Aussies inflation impacted AUD by 200 pips and trading at 0.7730. On weekly chart this pair is forming Dark Cloud Cover. Now 0.7900/50 is major top for this pair.
EUR/CHF - This pair gradually inching towards 1.6200 after making the low of 1.6130. Still i believe that 1.6200 will be crucial for both this pair.
EUR/JPY - Yen is still trading bit stronger against Euro and now trading below 157, earlier Yen was stronger by nearly 300 pips, on that occasion Yen made the high of 155.80.
GBP/JPY - This pair keep finding high resistence at 239. At one stage GBP was weaker by 500 pips against Yen after making the high of 241.5 and the low 236.4.
AUD/NZD - Really this pair looking very interesting, coz AUD is trading weaker after it soft inflation data and riding fear of no rate hike on Feb 06 and NZD is getting harder against AUD after the hawkish stance from RBNZ Governor Bollard. Currently trading just above the 1.1100 after making the low just below 1.050
posted by Naveen Pantera at 3:34 PM
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