EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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06-AUGEST-2014

INTERNATIONAL CURRENCY BUZZ

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Forex -Euro broadly lower after PMI data Forex -Euro steady against dollar, ECB ahead Forex -Bitcoin prices remain below $600 amid bearish chart signals

NZD/USD NZD/USD hit 0.8511 during late Asian trade, the session high; the pair subsequently consolidated at 0.8524, inching up 0.01%.The pair was likely to find support at 0.8462, the low of August 1 and resistance at 0.8557, the high of July 29.The greenback remained supported below recent highs after the latest U.S. employment report on Friday showing that jobs growth slowed slightly in July prompted investors to curtail expectations on the timing of a possible rate hike by the Federal Reserve.The kiwi was little changed against the Australian dollar, with AUD/NZD easing up 0.02% to 1.0953.

GBP/USD GBP/USD rose 0.15% to 1.6886 from around 1.6849 ahead of the release of the data.Cable was likely to find support at 1.6814, the low of August 1 and a one-and-a-half month low and support at 1.6955, the high of July 30. Market research group Markit said the Markit/CIPS Services Purchasing Managers Index jumped to an eight-month high of 59.1 last month from a reading of 57.7 in June. Economists had expected the index to tick up to 57.9. The report came after data on Monday showed that the expansion in the U.K. construction sector slowed a touch in July, but was still faster-than-expected.Expectations for a rate hike by the Bank of England before the end of this year were boosted after the bank recently signalled that rates could rise sooner than markets expect if the recovery continues.

DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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NZD/USD Hourly Chart

INTRADAY OUTLOOKSupport: 0.8502Resistance: 0.8528

RECOMMENDATION: 1. Buy NZD/USD Above 0.8530 TG: 0.8545/ 0.8565 SL 0.85102. Sell NZD/USD Below 0.8498 TG: 0.8483/0.8478 SL 0.8518

EPIC'S ANALYST SPEAKS

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GBP/USD Hourly Chart

INTRADAY OUTLOOKSupport: 1.6849Resistance: 1.6891

RECOMMENDATION: 1. Buy GBP/USD Above 1.6895 TG: 1.6910/ 1.6930 SL 1.68752. Sell GBP/USD Below 1.6845- TG: 1.6830/1.6810 SL 1.6865

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