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.