EURUSD dropped yesterday and closed at 1.2855. The German Import Prices month over month dropped more than expected in April hitting -1.4 percent. On the other side of the ocean the Consumer Confidence in the United States rose to a five year high in May reaching 76.2. Support for the EURUSD is seen at 1.2842 and resistance is seen at 1.2945. The HotForex Traders Board shows that 55 percent of the traders are long on the EURUSD.
GBPUSD
The Cable dropped yesterday and closed at 1.5029. With the lack of domestic releases in the United Kingdom the pair was pushed lower after an upbeat economic releases from the United States. Investors are now awaiting the release of the CBI Realized Sales due from the United Kingdom today. Support for the GBPUSD is seen at 1.5017 and resistance is seen at 1.5118. The HotForex Traders Board shows that 68 percent of the traders are long on the GBPUSD.
EURUSD trading near the 1.29 mark. Bank of Canada releases its overnight rate today.
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