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Daily FX Analysis: EUR/USD, GBP/USD, AUD/USD

Daily FX Analysis: EUR/USD, GBP/USD, AUD/USD

EUR/USD

EUR/USD Chart

Weekly Trend: Bearish 1st Resistance: 1.1240 2nd Resistance: 1.1290 1st Support: 1.1110 2nd Support: 1.1027 3rd Support: 1.0907

EUR

Recent Facts:

22nd of July 2016, German Manufacturing PMI (key indicator of the activity level of purchasing managers in the manufacturing sector as surveyed in Germany) Better than expected. Setting a new high from May 2014

28th of July, German Unemployment Change Better than expected

29th of July, CPI (key preliminary inflation data in Europe) Higher than expected. Setting a new high from last February

USD

Recent Facts:

21st of July 2016, Existing Home Sales Better than expected. Setting a new high from August 2015, which was the highest value of the last 6 years

29th of July, Gross Domestic Product QoQ (preliminary) Worse than expected. Actual = +1.2%; expectations were at +2.6%

3rd of August, ADP Nonfarm Employment Change Better than expected. Continuing the up-trend from last May

5th of August, Nonfarm Payrolls and Unemployment Rate Nonfarm payrolls better than expected (for the second month in a row). Unemployment rate pared

9th of August, United States Nonfarm Productivity Worse than expected

GBP/USD

GBP/USD Chart

Weekly Trend: Bearish 1st Resistance: 1.3220 2nd Resistance: 1.3370 1st Support: 1.2930 2nd Support: 1.2810

GBP

Recent Facts:

22nd of July 2016, UK Services PMI (key indicator of the activity level of purchasing managers in the services sector) Worse than expected. Setting a new historical low, the lowest value of the last 7 years

27th of July 2016, Gross Domestic Product (preliminary) Better than expected

4th of August, Bank of England Interest Rate Decision (expected a cut) Bank of England lowers interest rates as expected (record low of 0.25%) and increases purchase program

9th of August, Manufacturing Production (measures the change in the total inflation-adjusted value of output produced by manufacturers) Slightly worse than expected

9th of August, Trade Balance Worse than expected. Setting a new historical low

USD

Recent Facts:

See above.

AUD/USD

AUD/USD Chart

Weekly Trend: Neutral 1st Resistance: 0.7690 2nd Resistance: 0.7916 1st Support: 0.7510 2nd Support: 0.7420 3rd Support: 0.7200

AUD

Recent Facts:

19th of July 2016, Reserve Bank of Australia Meeting Possible further easing in the next month to counteract the negative shock from the Brexit vote

26th of July, CPI (key inflation data in Australia) pared

2nd of August, Interest Rate cut from 1.75% to 1.50% as expected

4th of August, Retail Sales (June) Worse than expected

11th of August, Reserve Bank of New Zealand’s rate statement Interest rate cut (to 2%) as expected

USD

Recent Facts:

See above.

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