EURUSD

The pair was sold today despite bank holidays, continuing the downtrend as ISM Non-Manufacturing PMI rose to 55.4, more than expected, 54.1 and pending home Sales month over month rose significantly to 8.2% from -0.5% expected. Oil is trading at $86 and DJIA closed at 10973, heading toward 11000. EU Sentix Investor Confidence rose to 2.5% from previous -7.5. Today sees the FOMC Meeting Minutes from the US and in Wednesday German Factory Orders expected to fall to -0.9% from previous 4.3%. Buying the pair may provide strength and retrace back to resistance 1.3385 heading toward 1.3460. Otherwise, may see the pair trading lower up to support 1.3268.

GBPUSD

The pair broke support 1.5100 and testing 1.5180 dominated from dollar moves as no important announcements were expected from England. Continuing higher, the pair may break resistance 1.5180 from the upside heading toward 1.5300 to test this level again. Otherwise, the pair may be sold to support 1.5040. Economic announcements from the UK Construction PMI, rose to 53.1 expected 48.8. Wednesday sees the release of Nationwide Consumer Confidence previously 80, Halifax HPI month over month previously -1.5% expected to rise to 0.6% and Services PMI expected to fall slightly to 58.2 from previous 58.4.

USDCAD

The Canadian Dollar continued lower breaking support 1.0000 on day today. Further selling may see the pair heading toward support 0.9860. Wednesday figures from Canada include Building permits, previously -4.9% expected to be 2.1% and Ivey PMI before 51.9 expected to rise to 55.1 which may provide impetus to pair and continue higher, heading toward 1.0065 or higher to 1.0130.

USDJPY

The pair lost some ground after the uptrend started last week and continued lower to support 93.75 while Nikkei stocks slipped after successive days of 18-month highs. Figures front, sees Bank of Japan Press Conference and Monetary Policy Statement as well as Overnight call rate, expected to stay at 0.1%. Any movements to the upside could see the pair trading at 94.75 or 95.40 beyond. Breaking the support 93.75 may continue lower to 92.90.

AUDUSD

The pair managed to break range between 0.9215 and 0.9165 continuing higher to 0.9260 as Australia officials raised cash rates as expected from 4.0% to 4.25% sending signs of strength in the economy. Commodities were also a reason of a strong Aussie as Oil and Gold continued higher. Australian ANZ Job Advertisements month over month fell to 1.8% from previous 19.1%. Look forward, AIG Services Index previously 48.3. Stimulus for further buying may continue higher to 0.9260 or 0.9305 beyond. Otherwise may retrace back to price 0.9165.

Technical Commentary

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