The release of the US consumer confidence shifted the trading dynamics.

Asian and European trading sessions

Euro: As the risk appetites continued to grow on Tuesday, the euro strengthened and the EUR/USD pair showed maximums above the $1,3000 mark.

The released today German Gfk Consumer confidence survey showed growth to 3.9, which supported the euro and resulted in the euro rate growth against the yen to its 7-weeks maximum.

British Pound: The GBP/USD traded in the range of $1,5470-$1,5530 during the morning trading.

Japanese Yen: The positive US fundamentals (home sales data), which were released on Monday, supported the market participants’ confidence in the rehabilitation of the world economy.
Therefore, the demand for the safe heaven currencies dropped and the Japanese
yen rate decreased against the major currencies. The USD/JPY pair
consolidated around the Y87,20 mark.

Australian Dollar: The Australian dollar continued to trade around its maximums against the US dollar as the investors were waiting for the release of the Consumer prices. According to the
expectations, the Consumer prices grew for 1% for the second quarter. As the
Reserve Bank of Australia stated, the inflation data would influence the
principal rate decision.

Oil: The stock markets growth continued to support the oil prices. The oil traded during the morning session at the level of $79 per barrel. Later on the rate decreased to $77.39.

Gold: The gold rate almost reached minimums at the $1166.50 per ounce mark.

American trading session

US Dollar: The release of the US fundamentals during the second part of the day shifted the trading dynamics. Risk appetites dropped as the US Consumer confidence index for July was
published. The indicator decreased considerably compared to the previous mark
to the level of 50.4 (its 5-month minimum level) against its forecast of 51.0.

The USD Richmond Fed Manufacturing index turned out to be somewhat above the expectations at the level of 16, but lower than the previous month. The released later on USD ABC Consumer
confidence happened to be below the predictions as well. As a result, the
US dollar rate rallied and demand for the safe heaven currencies grew.

Technical analysis

EURUSD

The pair is aiming to the second level of Fibonacci retracement of 38.2% at 1.31133, if 1.30277 is broken.

Resistance: 1.30277, 1.32285, 1.34334

Support: 1.28630, 1.27009, 1.25690

GBPUSD

The pair has broken 1.5484 again and aiming to 1.56722. At this level the pair should start topping, because of the MACD divergence.

Resistance: 1.56722, 1.58543, 1.60322

Support: 1.54842, 1.52523, 1.50581

USDCHF

The pair has reached 1.06179 and rolling back to 1.05139.

Resistance: 1.06179, 1.07258, 1.08210

Support: 1.05139, 1.03987, 1.02747

USDJPY

The pair is trading in the narrow range between 87.675 and 86.345. Once 86.246 is broken, the pair will decline to 85.161.

Resistance: 88.640, 90.045, 91.254

Support: 86.246, 85.701, 85.161

AUDUSD

The pair is rolling back to 0.89029. If this level is broken the pair will decline to 0.87243.

Resistance: 0.90285, 0.91773, 0.93357

Support: 0.89029, 0.87243, 0.82723