Good news from Japan : Japan economy grows at 1.7% annual pace in Jan – March , it is better than economist expected . Minutes of the Federal Open Market Committee ( FOMC ) April 26-27 ,2016 Hawkish tone strengthened Dollar . The 30-Day Fed Fund futures price drop and the June rate hike probability increase to 34% from 15% yesterday. Beijing 18 May , 2016 Assistant Governor Mr. Guy Debelle speech : Developments in Global FX markets and Challenges in Currency Internationalization from Australia perspective . The release of Global Code of Conduct for the FX market in part . Australia job report better than expected at 5.7% .
looking at daily no higher high and n lower low ranges bound 78.5 – 80.5 about 200 pips ranges.
Yesterday only 73 pips so for the Bears wait until it break down the support area of DS1 79,28 looks for pullback and sell aim Daily S2 about 79 area. The Bull will more interested to see 4 H break up the ranges and Long on the pull back
Happy and safe Trading