FX News – August 15: AUD, USD, GBP, EUR Updates

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The AUD/USD started out strong at the opening of today's session. This was after the pair spent much of yesterday hovering around the 0.9100 level. However, its value started to pick up, peaking just above 0.9180 so far today.

The pair is currently trading at 0.9168, with initial resistance seen at 0.9182, followed by 0.9205. On the other hand, initial support is at 0.9101, followed by 0.9079.

Meanwhile, the GBP/USD pair enjoyed a surge late in yesterday's session brought about by the positive UK jobs data. The pair reached a peak just above the 1.5540 before slipping to 1.5500. It has made a quick recovery and has reached a high of 1.5543 early in today's Asian session.

The GBP/USD pair is currently trading at 1.5519, with initial resistance seen at 1.5587, followed by 1.5626. Meanwhile, key support can be found at 1.5461 and 1.5422.

In Europe, both Germany and the EU reported better-than-expected GDP data yesterday. These reports, however, failed to help lift the euro against the greenback during most of yesterday's session. The EUR/USD dropped to a low of 1.3238 late in the European session, before rebounding to the 1.3265 area at the opening of US trading due to a broad USD weakness. Overall, the pair mostly spent the day hovering around the 1.3265 level.

However today, the pair made a quick surge to the 1.3300 level. It is currently trading at 1.3295, with initial resistance seen at 1.3268 followed by 1.3301. On the other hand, initial support is at 1.3225, followed by 1.3192.

What to Expect in Today’s Session

There are a number of reports coming out of the UK and the US today, including the UK's retail sales data (8:30am GMT) and the US CPI data (12:30pm GMT) as well as the country’s initial jobless claims, industrial production, and the NAHB housing market index.

By FX Strategy Team, Published on 15th of August 2013
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