TRADING TIPS :
- Forex – Pound lower after dovish Carney comments
- Forex – Euro edges higher, gains checked after German Ifo
- Forex – AUD/USD slips but remains near 2-1/2 month high
GBP/USD touched session lows of 1.6974 and was last down 0.21% to 1.6993.The pair was trading at around 1.702 before the speech. Cable was likely to find support at 1.6940 and resistance at 1.7030, the session high. The drop in the pound came after BoE Governor Mark Carney said that wage growth has been lower than expected
EUR/USD edged up 0.13% to 1.3620, up from session lows of 1.3598. The pair was likely to find support at 1.3540 and resistance at 1.3630. The single currency shrugged off a report showing that the German Ifo business climate index fell to a six-month low of 109.7 this month from 110.4 in May and compared to estimates of 110.3.
AUD/USD hit 0.9418 during late Asian trade, the session low; the pair subsequently consolidated at 0.9409, slipping 0.16%. The pair was likely to find support at 0.9375, the low of June 22 and resistance at 0.9461. A report on Monday showed that China’s HSBC manufacturing PMI came in at 50.8 in June.
1. Buy GBP/USD Above 1.7030- TG: 1.7060/ 1.7090 SL 1.7005
2. Sell GBP/USD Below 1.6970- TG: 1.6940/ 1.6910 SL 1.6995