USD Trading Outlook (27-05-2015)

US dollar index increased by almost 1%, reaching a high of 97.45 from 96.52 with USD/JPY leading the way to a 7-year high at 123.31. US economic data was very upbeat yesterday with impressive core durable goods orders data (0.5% vs 0.3% in March),better-than expected consumer confidence figures (95.4 vs 95 expected) and April new home sales 517K vs 510K expected.

EUR slipped down by 100 pips from highest at 1.0969 to lowest 1.08624. No Economic data for today however from the technical side, the pivot is 1.096 with resistance level 1.1005 and support level at 1.0820.

AUD fell 110 pips during European and NY session, from highest 0.7842 to lowest at 0.7724. Next coming key data for AUD/USD will be Private Capital expenditure at 01:30 GMT 28/05.This data slipped back at -2.2% in last quarter, now with the forecast of -2.3 %.

After breaking new multi-year high, USDJPY is still updating the new high toward 123.00-124.00. With Pivot at 122.45, Key Resistance level is 123.50 and next support level is 121.70. The price of gold fell below 1200 appear after this, falling as low as 1185.

Key data for today will be the interest rate decision from Bank of Canada at 14:00 GMT.

Trading quote of the day: The goal of a successful trader is to make the best trades. Money is secondary.