GBPUSD Daily Analysis – April 30, 2014
GBPUSD stays in a trading range between 1.6762 and 1.6857.
GBPUSD stays in a trading range between 1.6762 and 1.6857.
Reports overnight show Ukraine’s GDP fell by 1.1% yr/yr for the first quarter in 2014. Ukraine’s department of State Statistic Services report also indicated its economy dropped 2% in January-March from the previous quarter.
AUDUSD remains in downtrend from 0.9461.
Brent crude oil (BNO, quote) suffered its largest loss in almost a month, bringing it down near $108.
EURUSD broke above 1.3864 resistance. However, the rise from 1.3785 is likely consolidation of the downtrend from 1.3905,
USDJPY is facing 102.72 resistance, a break above this level will indicate that the uptrend from 101.32 has resumed,
AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461, and the fall extended to as low as 0.9227.
USDJPY is now in downtrend from 102.72, and the fall extended to as low as 101.96.
AUDUSD is in a strong uptrend on its short-term and long-term time frames but it appears that buyers need to regain energy before pushing the pair higher.
It’s been a tough couple of weeks for eurodollar traders, with the pair trading in a congested range, testing the 1.3780 floor to the downside and the 1.3870 ceiling to the upside on the daily chart.