The AUD GDP report in Asian trading set the tone Wednesday for a risk on rally that squeezed many shorts out of the market.  Heading into Thursday's trading the AUD will once again be in the spotlight with the release of it Employment Report at 1:30 GMT.  Thing could become interesting if this report is negative in any fashion.  The EURUSD and GBPUSD are trending near strong price resistance levels that could attract sellers if tested.  Keep in mind the BOE Rate and Asset Repurchase Reports are due in early North American trading.  Any increase in the bond purchase would send the pound lower.  As always keep your trades KEANE and play it safe.

 

 

EURUSD  What We Have Here Is A Bounce

The EURUSD has pieced together a nice rally from 1.23 since the beginning of the month.  Any move up to the 1.26/2625 resistance zone should find seller.  Support can now be found at past resistance at 1.2540.

Res    1.26/2625   Strong

Sup     1.2540       1.2450

 

GBPUSD ALL EYE ON THE BOE

 

The GBPUSD didn’t want to miss the party today and moved higher with the crowd.  The cross is currently sitting just below major support at 1.55/1.5525.  This level could attract sellers ahead of the BOE rate and Asset Purchase Target releases.  Support is now at 1.5410.

Res    1.55/1.5525

Sup    1.5410
AUDUSD GDP MIRICLE

The AUDUSD is the pair that started things moving on Wednesday.   The AUDUSD rocked higher after beating GDP estimates after most trader believed the number could come in a bit soft.  The cross is now testing daily price resistance at .9935.  A break of this level could expose parity and the 50 fib from May’s decline at 1.0026.  Support is now at .98.

Sup   .98

Res   .9935

 

NZDUSD MILK SETS A RECORD HIGH..KIWI BLASTS HIGHER

The NZDUSD skipped and bounced higher on Wednesday with the AUDUSD after expectations for a slowing growth were sidestepped.  Traders should pay attention to the AUDUSD employment report for indication of risk heading into Asian Trading.  Support for the NZDUSD  is now at .7675 and resistance is up at .78.

 

Sup    .7675

Res    .78

USDCAD CRASHED LOWER IN RISK ON ENVIRONMENT

The USDCAD traded wildly during the EUR press conference but followed the path of least resistance lower to finish trading in New York.  Support can now be found at 1.0260 and resistance is just above at 1.0310.

Sup  1.0260

Sup  1.0310


USDJPY JUMPED HIGHER

The USDJPY jumped higher in early New York trading to challenge the 79 level.  The cross has slowly been moving up this week but could run into headwinds with data release beginning in European trading this evening,  Support can be found at .78 followed by resistance around .79.

Sup  .78

Res   .79