TRADING TIPS :
- Forex-GBP/USD slides lower after U.K. CPI data.
- Forex- AUD/USD falls near 6-month lows after RBA minutes.
- Forex-Dollar remains broadly supported, Fed meeting on tap.
EUR/USD was steady at 1.2945, remaining supported above the 14-month low of 1.2858 reached one week ago The pair was likely to find support at the 1.2900 level and resistance at around 1.2975.The euro showed little reaction after a report showed that the ZEW index of German economic sentiment fell to 6.9 this month, down from 8.6 in August.The gauge of current conditions dropped to 25.4 from 44.3 in August.The ZEW Institute said the fall was due to growing uncertainty over Germany’s economic outlook as a result of sanctions against Russia, and the subdued outlook for the euro zone economy.
GBP/USD hit 1.6168 during European morning trade, the pair’s lowest since September 10; the pair subsequently consolidated at 1.6175, sliding 0.36%.Cable was likely to find support at 1.6050, the low of September 10 and a ten- month low and resistance at 1.6278, Monday’s high.Official data showed that U.K. consumer price inflation rose . 0.4% in August, in line with market expectations, after a 0.3% fall the previous month.On a year-on-year basis, U.K. CPI slowed to 1.5% last month from 1.6% in July.U.K. core CPI, which excludes food, energy, alcohol, and tobacco, rose 1.9% last month, up from 1.8% in July. Analysts had expected core prices to rise 1.8% in August.
1. Buy EUR/USD Above 1.2951-TG:1.2971/1.3001SL 1.2931
2. Sell EUR/USD Below 1.2929-TG:1.2909/1.2879 SL 1.2959