Forex forecast for 12 April 2017.
The pair fixed a new five-month low of 109.35 today and does not show any signs of a reversal. Nothing radically new occurred on the market over the past day. It's all about the optional barrier at 110.00 and a large accumulation of orders near this level. They gave the acceleration of the Japanese currency.
The Australian dollar stabilized after the last week’s falling. The pair consolidates in a narrow range and periodically makes unsuccessful tries to move above 0.7500 level. The main negative factor for the Australian currency remains China where the economy shows some difficulties.
The pound grew against the dollar yesterday despite the fact that March CPI data did not change in comparison with February data. Today the pair is consolidating in the area of yesterday's highs of 1.2494 in anticipation of data on labor market. A break above 1.2500 will improve the short-term outlook for the British currency.