EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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12-AUGEST-2014

INTERNATIONAL CURRENCY BUZZ

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Forex - Dollar edges higher vs. yen as geopolitical tensions ease Forex - NZD/USD steady, market sentiment recovers Forex - Bitcoin holds steady in lackluster trade

USD/CHF USD/CHF hit 0.9066 during European late morning trade, the session high; the pair subsequently consolidated 0.9062, adding 0.10%.The pair was likely to find support at 0.9018, the low of July 25 and resistance at 0.9098, the high of August 8.Official data showed that Swiss retail sales rose 3.4% in June compared to a year earlier, beating expectations for a 0.3% gain. May's figure was revised to a 0.5% fall from a previously estimated 0.6% decline. Market sentiment improved on Monday following reports Russia ended military exercises it was holding close to the border with Ukraine, but investors were continuing to monitor developments in the region closely. GBP/USD GBP/USD hit 1.6795 during European morning trade, the session high; the pair subsequently consolidated at 1.6792,edging up 0.11%.Cable was likely to find support at 1.6739, the low of June 11 and resistance at 1.6831, Friday's high.Market sentiment improved on Monday following reports Russia ended military exercises it was holding close to the border with Ukraine, but investors were continuing to monitor developments in the region closely.News of a fresh 72-hour ceasefire between Israel and Hamas in Gaza which came into effect on Sunday also eased concerns over geopolitical instability in the Middle East.Separately, demand for the safe-haven dollar had weakened on Friday after the U.S. launched airstrikes in Iraq.

DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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USD/CHF Hourly Chart

INTRADAY OUTLOOKSupport: 0.9012Resistance: 0.9076

RECOMMENDATION: 1. Buy USD/CHF Above 0.9080: TG: 0.9095/0.9115 SL 0.90602. Sell USD/CHF Below 0.9008 TG: 0.8993/0.8973 SL 0.9028

EPIC'S ANALYST SPEAKS

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GBP/USD Hourly Chart

INTRADAY OUTLOOKSupport: 1.6742Resistance: 1.6821

RECOMMENDATION: 1. Buy GBP/USD Above 1.6825 TG: 1.6840/ 1.6860 SL 1.68052. Sell GBP/USD Below 1.6740 TG: 1.6725/1.6705 SL 1.6760

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