Technical Overview of GBP/USD, AUD/USD and NZD/USD Currency Pairs

GBPUSD

GBP USD

The GBP traded higher against the USD and closed at 1.2746.

The GBP/USD pair trades at the upper end of its weekly range as the dollar remains weak. Upside capped by Brexit uncertainty, looming Parliamentary discussions.

Manufacturing Production m/m shows the change in the value of goods produced in the manufacturing sector of the UK industry in the given month compared to the previous month.

Manufacturing (production of foods, pharmaceuticals, light industry, metal processing, etc.) accounts for about 80% of the overall UK industrial production. The indicator growth may have a positive effect on the pound quotes.

According to the Analysis, The pair is expected to find support at 1.27154, and a fall through could take it to the next support level of 1.26853. The pair is expected to find its first resistance at 1.27874, and a rise through could take it to the next resistance level of 1.28293.

Previous Day range was 72 and Current Day Range is 25.3.

AUD USD

AUDUSD

The AUD traded lower against the USD and closed at 0.7185.

AUD prints session highs above 0.72 following a better-than-expected Aussie retail sales release. 

The pair is struggling to find acceptance above 0.72 and could feel the pull of gravity during the day ahead as both the USD/CNH pair and gold are hinting at a recovery rally in the US dollar. 

Australia Retail Sales m/m show a change in the turnover of goods and services sold in retail outlets in the given month compared to the previous month.

The turnover of goods and services sold in retail outlets include retail sales, wholesales, takings from repairs, sales in public places, commission from agency activity, as well as the goods and services tax.

The indicator growth can have a positive effect on the Australian dollar quotes.

The pair is expected to find support at 0.71548, and a fall through could take it to the next support level of 0.71248. The pair is expected to find its first resistance at 0.72059, and a rise through could take it to the next resistance level of 0.72270.

AUD USD previous Day range was 51.1 and Current Day Range is 31.6.

NZD USD

NZDUSD

The NZD traded higher against USD and closed at 0.6779.

The NZD/USD pair is probing the trendline falling from December highs for the third day straight. As of writing, the trendline resistance is located at 0.6786. Interestingly, the 100-period moving average (MA) on the 4-hour chart is also located at that level.

Building Consents m/m reflect summary data on permits for the construction of residential and non-residential buildings priced at 5000$ and higher, granted by New Zealand consent authorities. The indicator is calculated as a change in the reported month compared to the previous one. The calculation accounts for taxes on goods and services, however it is not adjusted for inflation.

Data on construction approvals are considered as an indicator of confidence in the domestic economy, therefore construction consents are also considered as a leading indicator of the construction sector activity.

According to the analysis, NZD/USD pair is expected to find support at 0.67684, and a fall through could take it to the next support level of 0.67581. The pair is expected to find its first resistance at 0.67915, and a rise through could take it to the next resistance level of 0.68043.

NZD/USD previous day range was 23.1 and current day range is 42.5.

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