Key PointsThe US Dollar recovered well from the 0.9640 low against the Swiss Franc and moved above 0.9700. The USDCHF pair broke a short-term bearish trend line at 0.9705 on the hourly chart. Today, the Swiss Producer and Import Prices for May 2017 was provided by the Federal Statistical Office. The outcome was below the forecast of -0.1%, as the Producer and Import Prices declined by 0.3% (MoM). USDCHF Technical Analysis
The US Dollar faced selling pressure yesterday and declined below 0.9660 against the Swiss Franc. Later, the USDCHDF pair recovered and moved above the 0.9690 resistance and the 21 hourly simple moving average.
The pair also managed to clear the [...]
Key PointsThe British Pound recently traded higher after forming a support at 1.2770-80 against the US Dollar. The GBPUSD pair broke a major bearish trend line at 1.2855 on the hourly chart to move higher. Today in the UK, the Nationwide Housing Prices were released for May 2017. The outcome was below the forecast, as there was a decline of 0.2% (MoM), more than the forecast of -0.1%. GBPUSD Technical Analysis
The British Pound after trading towards 1.2750-70 against the US Dollar, started trading in a range and consolidated. Later, the GBPUSD pair gained momentum, and moved above the 1.2800 resistance for a move towards 1.2900.
During the upside, the pair [...]
Key PointsThe Euro made an upside move from the 1.4930 swing low against the Aussie Dollar. The EURAUD pair broke a major bearish trend line at 1.4985 on the hourly chart to open the bullish gates in the short term. Today in the Euro Zone, the Italian Industrial Sales report for March 2017 was released by the National Institute of Statistics. The result was better than the forecast, as the Industrial Sales rose 7.2% in March 2017 (YoY), more than the last 4.6%. EURAUD Technical Analysis
The Euro after a downside move below 1.4950, traded towards the 1.4930 support against the Aussie Dollar. The EURAUD pair consolidated above 1.4930 for some time, and later gained momentum [...]