- Daily Pips Signal

EUR/USD bounces at 1.3600 and trades back at 1.3625

The Euro found buying interest at the 1.3600 area against the US Dollar and after a short period of consolidation, the EUR/USD rose to trade above the 200-hour MA at 1.3615.

The Euro found buying interest at the 1.3600 area against the US Dollar and after a short period of consolidation, the EUR/USD rose to trade above the 200-hour MA at 1.3615.

Currently, EUR/USD is trading at 1.3621, up 0.06% on the day, having posted a daily high at 1.3631 and low at 1.3602. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.

EUR/USD levels

If the pair manages to sustain levels above 200-hour at 1.3615, the pair would face resistances at 1.3630 and 1.3650. On the downside, supports are at 1.3600, 1.3590 and 1.3575.

GBP/USD regains 1.7100

The GBP/USD managed to bounce from lows after dipping briefly below the 1.7100 mark at the beginning of the American session, as the pound remains under mild pressure ahead of the FOMC minutes and the BoE decision.

The GBP/USD managed to bounce from lows after dipping briefly below the 1.7100 mark at the beginning of the American session, as the pound remains under mild pressure ahead of the FOMC minutes and the BoE decision.

The GBP/USD is facing some corrective pressure this week after hitting a 6-year high of 1.7178 Friday supported by prospects the BoE will hike rates before the Fed. Investors will be closely watching today’s FOMC minutes and tomorrow’s BoE in the search of clues.

GBP/USD technical levels

At time of writing, the cable is trading at 1.7110, still down 0.11% on the day. As for technical levels, the pair could find next supports at 1.7085 (Jul 8 low), 1.7049 (50% fibo of 1.6919/1.7178) and 1.7008 (Jun 30 low). On the flip side, resistances are seen at 1.7145 (Jul 9 high), 1.7178 (Jul 4 high) and 1.7196 (Oct 21 2008 high).

GBP/USD regains 1.7100

The GBP/USD managed to bounce from lows after dipping briefly below the 1.7100 mark at the beginning of the American session, as the pound remains under mild pressure ahead of the FOMC minutes and the BoE decision.

AUD/USD in narrow range near 0.9400

The Aussie dollar keeps the narrow range on Wednesday, with the AUD/USD hovering over the key level at 0.9400 the figure...

The Aussie dollar keeps the narrow range on Wednesday, with the AUD/USD hovering over the key level at 0.9400 the figure.

AUD/USD focus on FOMC, China

Traders remain cautious ahead of the release of the FOMC minutes this evening in Europe, with consensus pointing to a dovish tone by Chairwoman Yellen and thus allowing a potential for further AUD upside. However, the Chinese trade balance figures and New Loans due tomorrow will be key for the Aussie in the very near term, with recent highs above he 0.9500 handle being the interim resistance. “While the current up-move is likely part of a counter-trend rally, positive undertone suggests further up-move towards 0.9430 before a more definitive top can be expected. Only a move below 0.9375 will indicate a move towards the recent low near 0.9330 has started”, observed Quek Ser Leang, Market Strategist at UOB Group.

AUD/USD levels to watch

At the moment the pair is losing 0.07% at 0.9392 and a breach of 0.9363 (low Jul.8) would target 0.9346 (50-d MA) en route to 0.9342 (low Jul.7). On the upside, the immediate resistance aligns at 0.9415 (high Jul.8) followed by 0.9443 (high Jul.3) and finally 0.9499 (high Jul.2).