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  1. #31
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    XtreamForex.com
    Technical Overview of AUD/USD and USD/JPY Currency Pair
    AUD/USD

    • AUD traded Higher against USD and closed at 0.6686

    AUD/USD sustains the bounce above 0.6700 amid mixed Australian NAB Business Survey and Home Loan data. The spot draws support from a risk-on rally in the Asian stocks, as coronavirus fears take a back seat.
    • AUD/USD is reporting marginal gains despite below-forecast NAB data.
    • The 14-day RSI is reporting a bullish divergence.
    • Australia's Home Loan data bettered estimates by a big margin.
    • That alongside the uptick in the equities could help the Aussie eke out notable bounce.
    •
    • According to the Analysis, pair is expected to find support at 0.6673 and a fall through could take it to the next support level of 0.6663. The pair is expected to find its first resistance at 0.6703 and a rise through could take it to the next resistance level of 0.6713.

    USD/JPY
    USD traded higher against JPY and closed at 109.74
    • USD/JPY holds onto recovery gains from 21-day SMA.
    • A sustained break of monthly high will divert the bulls towards the yearly top.
    • 200-day SMA acts as key support.
    USD/JPY registers 0.10% gains while rising to 109.85 by the press time of the pre-European session on Tuesday. In doing so, the quote justifies the bullish candlestick formation portrayed the previous day.
    As a result, prices are now gearing up to the monthly top surrounding 110.05, a break of which will escalate the latest recovery towards January 17 high near 110.30.

    According to the Analysis, pair is expected to find support at 109.65 and a fall through could take it to the next support level of 109.58. The pair is expected to find its first resistance at 109.85 , and a rise through could take it to the next resistance level of 109.92.

    Important Economic Events of the Day

    • GBP Manufacturing Production m/m
    • GBP GDP q/q
    • GBP GDP m/m
    • GBP GDP 3m/3m


    For More information about the release time of news and its impact visit Economic Calendar Page!

  2. #32
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    Technical Overview of EUR/USD and GBP/USD Currency Pair
    EUR/USD
    • EUR traded Higher against USD and closed at 1.0791

    EUR/USD closed out Tuesday below 1.07 to print the weakest daily close since April 2017.
    More importantly, the single currency formed a bearish marubozu candle, implying a continuation of the downtrend.

    A red marubozu, the one with a large body and little or no shadows, occurs when sellers control the price throughout the day, and is considered very bearish.

    The back-to-back big red marubozu candles seen on the weekly chart are also painting a bearish picture.

    According to the Analysis, pair is expected to find support at 1.0786 and a fall through could take it to the next support level of 1.0774 The pair is expected to find its first resistance at 1.0826 and a rise through could take it to the next resistance level of 1.0838.

    GBP/USD
    • GBP traded higher against USD and closed at 1.2998

    • GBP/USD fails to register noticeable moves following a Tuesday’s Doji candlestick.
    • Short-term moves are confined between 50 and 100-day SMA, 61.8% Fibonacci retracement offers immediate resistance.
    • The monthly bottom can please sellers below 100-day SMA.
    GBP/USD remains a little changed below 1.3000 during early Wednesday. The cable posted a trend reversal Doji candlestick formation the previous day. Though, 50-day and 100-day SMA continue to restrict near-term moves.

    While the recent Doji favors the pair’s pullback, 61.8% Fibonacci retracement of its November-December 2019 upside, at 1.3055, could lure the buyers ahead of making them confront 50-day SMA level of 1.3067.

    According to the Analysis, pair is expected to find support at 1.2976 and a fall through could take it to the next support level of 1.2958. The pair is expected to find its first resistance at 1.3036 and a rise through could take it to the next resistance level of 1.3054

    Important Economic Events of the Day

    • USD Building Permits
    • USD Housing Starts m/m
    • USD PPI m/m
    • USD FOMC Member Kashkari Speech
    More information about the release time of news and its impact visit Economic Calendar Page!

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