This week’s forex analysis focuses on three major currency pairs: EUR/USD, GBP/USD, and AUD/USD. The EUR/USD pair has been trading in a range between 1.1700 and 1.1900, with key support at 1.1750 and resistance at 1.1850. Traders are closely watching for any developments in the ongoing trade tensions between the US and Europe, which could impact the pair’s movement.
Meanwhile, the GBP/USD pair has seen some volatility as Brexit negotiations continue to weigh on the British pound. Key support levels are at 1.3000 and resistance at 1.3200. Traders will be monitoring any updates on Brexit talks and economic data releases from the UK for direction.
Lastly, the AUD/USD pair has been trading in a range between 0.7200 and 0.7400, with support at 0.7250 and resistance at 0.7350. The Australian dollar has been influenced by factors such as commodity prices and global economic conditions. Traders will be keeping an eye on any developments in the US-China trade war, as it could impact the Australian economy.
Overall, traders should stay informed about key economic events and news updates that could impact these currency pairs throughout the week.