U.S Philadelphia Fed Manufacturing Above Forecast, USD Remains Up!


The U.S Philadelphia Fed Manufacturing Index fell 22.2, from 22.9 a month earlier, passing a forecast 19.7. This development supports the USD, EURUSD remains under pressure below 1.1537 level – broken support turned resistance- with a risk to break below 1.1478 level. Any upside move is a selling opportunity.

Support:1.1478, 1.1408, 1.1343, 1.1290, 1.1178

Resistance: 1.1437, 1.1605, 1.1653, 1.1710, 1.1756

GBPUSD: The pair remains under heavy pressure, EU summit comes out with nothing today, this is bad for both EUR and GBP. Added to that; U.K retail Sales slipped to -0.8%, from 0.4% a month earlier, missing a forecast of -0.4%.

Any upside move will be capped by 1.3150 levels, support comes at 1.3072 where a cut will aim 1.3017 levels. A daily closing above 1.3222 level is needed to restore the upside momentum.

Support: 1.3072, 1.3017, 1.2935

Resistance: 1.3150, 1.3222, 1.3295

USDJPY: The pair still supported well above 111.75/112.25 levels with a risk to fly to 112.94/113.22 levels, above that level will bring a strong bullish move to 113.85 levels, below 111.75 will restore the downside momentum.

Support: 112.25, 111.75, 111.05

Resistance: 112.94, 113.22, 113.85