DATA HIGHLIGHTS TODAY 2014

DATA HIGHLIGHTS TODAY – UK Services PMI. US Non-manufacturing PMI.

AUDUSD – Seems to have found a floor here around 89¢, being the high in 1989 and bouncing off it September too. Price is looking to retrace back to its 50ema as more selling pressure builds. I do expect the Aussie to strengthen but that is later in the year as our economy slowly turns the corner and the government repairs the damage of the previous group of muppets. In the mid-term I expect it may well test 80cents as the greenback strengthens.
Resistance: 9000/9300/9428
Support: 8890/8720/8550

EURUSD http://invest.smartforextrade.com/– Tumbled last week as traders viewed its rally as not worthy and I have to agree with that. The weakest link should not be rewarded with a high currency. Here I expect it to get a bit messy, frothing, but would prefer to be looking for shorts back to 1.30.

Resistance: 13640/13830/14065
Support: 13488/13266/13135

GBPUSD – Would like to be long Pound but not necessarily the Cable. Expect a test of the 50ema and support level of 1.63 this week.
Resistance: 16474/16610/16740
Support: 16300/15950/15830