Market Research and Analysis

Daily Market Analysis Report

Mon, 26 Dec 2016 05:03 AM GMT

Author: Senior Forex Analyst, Arslan Ali Butt

  • Daily Trading Range:
  • 0. 07450 – 0.7085
  • Support & Resistance Levels:
  • R3: 0.7284
    R2: 0.7261
    R1: 0.7247
    Pivot Point: 0.7224
    S1: 0.7201
    S2: 0.7187
    S3: 0.7164
  • Trading Recommendation:
  • Sell Below: 0.7225
    Take Profit:
    1st @ 0.7165
    Stop Loss @ 0.7245


AUDUSD continued to trade sharply bearish at 0.7130, maintaining it strong bearish momentum for the 8th consecutive trading days. The pair 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 investors are not likely to see any major activity as the markets are mostly closed and volatility is likely to remain low enough to give us no trading opportunity.

Fundamental Overview

New U.S. single-family home sales rose more than expected in November, reaching their highest level in four months, likely as expectations of higher mortgage rates drew buyers into the market. The Commerce Department said on Friday new home sales increased 5.2 percent to a seasonally adjusted annual rate of 592,000 units last month. October’s sales pace was unrevised at 563,000 units. Economists polled by Reuters had forecast single-family home sales, which account for about 9.5 percent of overall home sales, rising 2.1 percent to a 575,000-unit rate last month.

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


  • Bank Holiday


  • Bank Holiday

Technical Overview

AUDUSD trades around 0.7185, pushing back up from a support of 0.7165. Further, it also broker 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 0.7240 and 0.7285, further the supports remains at 0.7140 and 0.7090.

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Risk Warning:

There is a substantial risk of loss in trading commodity futures, option and off-change foreign currency products.
Read our General Risk Disclosure.