Daily Market Outlook by Hiwayfx

[Hiwayfx 10]

EUR / USD

The EUR declined 0.15% against the USD and closed at 1.1060 .The EUR/USD pair reversed a part of yesterday’s slide and edged higher in the mid-Asian trades, largely as the US dollar corrected lower after the recent strength. While the European currency also bounced versus its American counterpart as traders continued to digest the unexpected dive in the US consumer confidence, awaiting the outcome of the two-day Fed meeting due later in the US session.The pair is expected to find support at 1.1020 ,and a fall through could take it to the next support level 1.0980 .The pair is expected to find its first resistance at 1.1100 , and a rise through could take it to the next resistance level of 1.1140 .

 

GBP / USD

The GBP declined 0.01% against the USD and closed at 1.5615 .GBP/USD pair surged to a fresh weekly high of 1.5627, with the Pound finding intraday demand after the release of the UK GDP figures for the second quarter of this 2015.The pair is expected to find support at 1.5549, and a fall through could take it to the next support level of 1.5486 .The pair is expected to find its first resistance at 1.5652 ,and a rise through could take it to the next resistance level of 1.5692.

 

AUD / USD

The AUD Declined 0.10% against the USD and closed at 0.7337 .The bid tone surrounding the AUD/USD pair remains intact in the Asian morning, now pushing the Aussie towards 0.7350 – key levels as broad based US dollar softness paired with stabilizing commodities prices continue to boost the AUD bulls.The pair is expected to find support at 0.7278.and a fall through could take it to the next support level of 0.7219.The pair is expected to find its first resistance at 0.7372, and a rise through could take it to the next resistance level of 0.7407.

 

USD / JPY

The USD decline 0.11% against the JPY and closed at 123.57 .USD/JPY reversed previous gains and fell into the negative territory in the mid-Asian session, as the Japanese currency enjoys stronger than expected Japanese retail sales numbers while the greenback edged lower on profit-taking after the recent strength.The pair is expected to find support at 123.13, and a fall through could take it to the next support level of 122.70.The pair is expected to find its first resistance at 123.90, and a rise through could take it to the next resistance level of 124.24.

 

XAU / USD

Gold Declined 0% against the USD at 1,096.70 .Gold prices eased in Asia early Wednesday, continuing a downward trend from overnight with eyes on the Federal Open Market Committee statement due later in the day.The pair is expected to find support at 1092.30, and a fall through could take it to the next support level of 1087.90.The pair is expected to find its first resistance at 1099.90, and a rise through could take it to the next resistance level of 1103.10.