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Daily analytical report (27/04/17)

  • What a busy day today in terms of macro data. Finally, the calendar is packed with important numbers and decisions. In this environment, we are sure to have a few interesting developments for currency traders.
  • We start with the GBPUSD, which is going up as expected. The recent flat correction was a sign of a possible bullish breakout, which is exactly what happened today. We managed to set new mid-term highs and we are well on our way to starting a new bullish wave. The closest supports are 1.284 and 1.2775.
  • We also have an interesting setup on two currencies from antipodes against USD. The first pair, AUDUSD, broke an important support on the 0.741 and has already used that overnight as a resistance. From the price action point of view, this is a sell signal.
  • The other one is the NZDUSD, which did not break the horizontal support but went through the long-term upwards trend line (pink) and the mid-term dynamic support connecting recent higher lows (black). Even though we're above the 0.688- the sentiment is still negative and the price should aim lower soon.

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