Market trying to take USD to new lows for the cycle after equity comeback late yesterday
AUDUSD toying with 12-month highs. Last year apparently never happened…. MAJOR HEADLINES – PREVIOUS SESSION New Zealand Jul. Building Permits rose 5.0% vs. 8.0% expected and -9.6% in Jun. UK Aug. GfK Consumer Confidence steady at -25 vs. -24 expected Japan Jul. Jobless Rate rose to 5.7% vs. 5.5% expected and 5.4% in Jun. Japan Jul. Household Spending fell -2.0% vs. -0.5% expected Japan Jul. CPI ex Food and Energy fell -0.9% YoY vs. -0.8% expected and -0.7% in Jun. Sweden Jul. PPI out at
Currency Majors Technical Perspective
EUR/USD Current price: 1.4360 Pair continues consolidating close to yesterday’s highs, supported by 1.4340 strong zone now turned into key support. 20 SMA has been capping the downside so far, guiding the upside movement with a strong bullish slope. Sentiment continues supporting further rises in the pair, despite both 1 and 4 hours indicators point for a downside correction. To the upside, yesterday’s high around 1.4405 also a short term descendant trend line needs to be broken to gave the