Top of the morning traders. Friday started with a flurry of data from China. The data produced a mixed picture.  But, more importantly the GDP report wasn't as weak as most investors had feared.  This lead to a slight rally in risk in European trading.  Today in New York keep your eyes out for the University of Michigan Consumer Confidence Report, Estimates are for a reading of 73.5.  Lets take a look at the majors.

 

EURUSD

Basically flat lining over the last 24 hours.  Trendline resistance above at 1.2220 and support at 1.2150.  The descending trend line should be difficult to break.

Sup                1.2150                          Res          1.2220

GBPUSD

Nice rebound in the pair after touching support at 1.54.  Resistance at 1.5460 should act as support in the short-term.

Sup             1.5460 / 1.54                   Res            1.5525             1.5575

AUDUSD

Struggling with resistance at 1.0180.  A break of the level exposes 1.0250.

Sup        1.01         1.00

Res        1.0180      1.0250

NZDUSD

Resistance at .7930 could find sellers.  If broken the range from the beginning of the week between .80 and .7930 is back in play.

Sup   .7840

Res      .7930

USDCAD

Broke below the ascending trend line.  Drifted lower overnight.

Sup   1.0123

Res    1.02

USDJPY

Still in a range.  Play the range until it breaks.

Sup       79.10

Res        80.00