ISM data fails to cheer the markets – InvestMacro Forex News

By TraderVox.com

Tradervox (Dublin) – The pressure on the single currency was evident during the US session as it plunged below the 1.3300 levels to print a fresh low of 1.3277. It has come above the 1.3300 levels and is trading around 1.3310, down about 0.38% for the day. The support may be seen at 1.3280 and below at 1.3230.

The resistance may be seen at 1.3325 and above at 1.3380. The ISM data was released today which came better than expected at 53.4. The consensus was 53. Construction spending in US decreased by 1.1% against the expected rise 0.6%.

After forming a high of 1.6061 during the European session, the Sterling Pound lost against the US dollar and is trading the 1.6000 levels at 1.6016, almost flat for the day.The resistance may be seen at 1.6050 and above at 1.6100 levels. The support may be seen at 1.6000 and below at 1.5940.

The USD/CHF is trading around 0.9040, up about a third of a percent for the day. The support may be seen at 0.9020 and below at 0.9000. The resistance may be seen at 0.9050 and above at 0.9080. The pair formed a high of 0.9069 but has retraced during the last two hours.

The USD/JPY has been under the pressure throughout the day. The pair formed a fresh low below 82, at 81.86. The pair has come above the 82 levels and is currently trading around 82.13, down more than a percent for the day. The support may be seen at 82 and below at 81.50. The resistance may be seen at 82.40 and above at 82.90.

The Australian dollar has come above the 1.0400 levels after forming a low of 1.0364. The pair is trading around 1.0424, down about 0.25% for the day. The support may be seen at 1.0420 and below at 1.0380. The resistance may be seen at 1.0480.

The US dollar index is trading around 79.

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