During the trading day on Tuesday, there is a strong movement in most currency pairs. The main driver of the movement began to macroeconomic data from the U.S. . Most of the indicators had a negative trend, which led to the growth of major currencies against the U.S. dollar. Today, many currencies went into a correction, and much cheaper, the dollar recovered slightly after yesterday's sharp decline.
European currency managed to grow by more than 100 points during yesterday's trading session. The EUR/USD started soaring after U.S. economic indicators came out worse than forecast and analysts' expectations. Euro broke through the level 1.3700 and almost reached the level of 1.3800 . Despite the decline in the overall unemployment rate to 7.2 %, investors and traders sold the dollar against the negative data on average hourly pay, change the number of people employed in non-agricultural sector and buying American stocks by foreign investors. As you can see, the block of news was quite serious, and unfortunately, most of this news is not met the expectations of market participants. The level of resistance for the pair now stands at 1.3790, while support has shifted to drop the 1.3700 . To date, the currency pair EUR/USD decline.
GBP/USD pair reached a local maximum at 1.6250 but further growth of this area is not continued. The growth of the British pound was also caused by the weakness of the dollar and the negative economic data. As now seen the pair GBP/USD was not stable at the moment quotes back to the opening level of the previous day, in other words, the dollar is fully played its yesterday's fall. This behavior indicates the strength of resistance at 1.6250, which hampers the growth of the pair GBP/USD. Support for the pound at around 1.6115 .
The Australian dollar was in a similar situation with the British pound. Despite yesterday's rise, in which the pair AUD/USD reached 0.9750, today the Aussie lost its positions. The pair has already dropped more than 100 points, and moves to the support at 0.96 . As we said earlier, the pullback in the Australian dollar could reach a level of 0.95. Unpleasant news was also decided to raise the national debt limit Australia to 500 billion Australian dollars, high leverage carries additional risks and can have a negative impact on the country's currency.Social button for Joomla