Current trend
Yesterday the Pound fell against the US Dollar.
The USD was supported after the publication of Friday’s data on the US labour market. The Unemployment Rate remained unchanged at 5% in line with expectations, while the Nonfarm Payrolls amounted to 211 thousands that was better than forecasted 200 thousands though less than the previous figure of 298 thousands. At the same time, yesterday’s data on the Consumer Credit Change showed a decrease to 15.98 billion Dollars, which was worse than its forecasts.
Today attention needs to be paid to data on the Industrial Production and BRC Retail Sales Monitor in the UK, and IBD/TIPP Economic Optimism and JOLTS Job Openings in the US.
Support and resistance
The nearest support level is at 1.5000 (30 November lows).
The nearest resistance level is at 1.5080 (moving average with 50 period).
Trading tips
Short positions can be opened from current prices with the target at 1.5000 and stop-loss at 1.5080.
Yesterday the Pound fell against the US Dollar.
The USD was supported after the publication of Friday’s data on the US labour market. The Unemployment Rate remained unchanged at 5% in line with expectations, while the Nonfarm Payrolls amounted to 211 thousands that was better than forecasted 200 thousands though less than the previous figure of 298 thousands. At the same time, yesterday’s data on the Consumer Credit Change showed a decrease to 15.98 billion Dollars, which was worse than its forecasts.
Today attention needs to be paid to data on the Industrial Production and BRC Retail Sales Monitor in the UK, and IBD/TIPP Economic Optimism and JOLTS Job Openings in the US.
Support and resistance
The nearest support level is at 1.5000 (30 November lows).
The nearest resistance level is at 1.5080 (moving average with 50 period).
Trading tips
Short positions can be opened from current prices with the target at 1.5000 and stop-loss at 1.5080.