Market Research and Analysis

Daily Market Analysis Report

Thu, 15 Dec 2016 03:55 AM GMT

Author: Senior Forex Analyst, Arslan Ali Butt

  • Daily Trading Range:
  • 0. 7550 – 0.7275
  • Support & Resistance Levels:
  • R3: 0.7571
    R2: 0.7521
    R1: 0.749
    Pivot Point: 0.744
    S1: 0.739
    S2: 0.7359
    S3: 0.7309
  • Trading Recommendation:
  • Sell Below: 0.7440
    Take Profit:
    1st @ 0.7385
    Stop Loss @ 0.7465

AUDUSD

AUDUSD combine was among the greatest washouts taking after the FED’s choice, as item related monetary standards were weighed by dollar’s quality, as well as by stocks and wares’ slides. The combine nears the 0.7410 toward the day’s end, however additionally slides will depend much on Australian information. FED rate hike played its role significantly to make the pair strongly bearish.

15-dec-aud
Fundamental Overview

Fundamentals the USD remained stronger as the Federal Reserve officials raised interest rates for the first time this year and forecast a steeper path for borrowing costs in 2017, saying inflation expectations have increased “considerably” and suggesting the labor market is tightening. The Federal Open Market Committee cited “realized and expected labor market conditions and inflation” in increasing its benchmark rate a quarter percentage point, according to a statement Wednesday following a two-day meeting in Washington.

Today on Thursday, the investors are recommended to monitor the following events:

AUD

  • Employment Change
  • Unemployment Rate

USD

  • CPI m/m
  • Core CPI m/m
  • Philly Fed Manufacturing Index
  • Unemployment Claims
  • Current Account
  • Empire State Manufacturing Index

Technical Overview

AUDUSD trades around 0.7413, falling below from a strong triple top resistance level at 0.7505. Further, it also broke below a bullish trend line support level of 0.7490. The RSI value is unchanged at 33, representing a crossover in a pair. Today, the AUDUSD can find a resistance at 0.7490 and 0.7520, further, the supports remains at 0.7390 and 0.7360.

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