A reasonable day for Dean yesterday where if you had used his ranges, then a couple of pips would have come your way. Brainard was very dovish in her statement and does not expect the Fed to hike interest rates this year. Chance of a hike in September now down to 15%. Read more courtesy of Reuters here – http://www.reuters.com/article/us-usa-fed-idUSKCN11I22L
Dean's Daily FX Update – 13 September 2016
In the EURUSD, we are right in the middle of the range we put on place on Sunday. The range in this FX pair may have narrowed a bit.
Lovely trade in the GBPUSD yesterday as we got into the support zone, the market then bounced and traded up to resistance before falling back. Dean waiting for the Inflation Data out of the UK before making his next move.
The Aussie (AUDUSD) had a brief rally around our support zone after Brainard’s statement but we have drifted lower. Dean will be watching how price reacts around these price levels and seeing if longs are an option.
Very similar action in the NZDUSD but the ranges have narrowed as in the EURUSD. Dean has placed a small area of support at 0.7290 and will be keeping eye on this level.
Dean made a few pips on the USDCAD yesterday and will be looking at a similar trade today. Will be watching to see the price action and a bearish pin needle in evidence there.
We are in the middle of the range in the USDZAR. We got up to our area of resistance at 14.60 and traded lower.
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