Market focus this morning returns to the more mundane, namely the BOE inflation report and press conference with Gov Mark Carney, and it will be interesting to see whether Cable can continue to build on its recent platform of support in the 1.5 region.
EURUSD is in consolidation of the downtrend from 1.2569 (Dec 16, 2014 high). Range trading between 1.1097 and 1.1650 is possible over the next several days.
The AUD/USD pair fell during the course of the session on Tuesday, as we continue to meander around the 0.7750 handle.
GBPUSD broke above 1.5268 resistance, indicating that the downtrend from 1.5785 (Dec 16, 2014 high) had completed at 1.4950 already.
The EUR/USD pair initially tried to fall during the course of the day on Monday, but found enough support at the 1.13 level to bounce and form a little bit of a hammer.
The USDJPY pair took off during the session on Friday as the nonfarm payroll number came out much better than anticipated.
The GBPUSD pair fell during the course of the day on Friday, testing the 1.52 handle.
The EURUSD pair fell during the course of the session on Friday, as the nonfarm payroll numbers came out much stronger than anticipated.
The AUDUSD pair tried to break out to the upside on Friday, but then turned back around at roughly 0.79 to form a bit of a shooting star.
The EURUSD pair fell during the course of the day on Wednesday as the market continues to look soft for the Euro in general.
