EURUSD rose yesterday and closed at 1.3304. The German Factory Order rose 3.8 percent month over month in June. The International Monetary Fund stated that the German economy would see stronger growth in 2014 as the strongest economy in the Eurozone benefits from low unemployment and solid public finances. Peter Praet Executive Board Member of the European Central Bank stated that the central bank stands ready to reduce interest rates further if inflation outlook warrants. Support for the EURUSD is seen at 1.3248 and resistance is seen at 1.3339. The HotForex Traders Board shows that 72 percent of the traders are short on the EURUSD.
GBPUSD
The Cable dropped yesterday and closed at 1.5347. The Industrial Production in the United Kingdom rose 1.1 percent month over month in June. In the session today the Cable rose sharply following the speech of the Governor of Bank of England Mark Carney and its currently trading around the 1.5450 level. Support for the GBPUSD is seen at 1.5297 and resistance is seen at 1.5457. The HotForex Traders Board shows that 55 percent of the traders are short on the GBPUSD.
EURUSD trading above the 1.33 mark in ahead of the start of the US session.
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