The document summarizes international forex news and provides analysis on currency pairs. It discusses the euro nearing two-and-a-half year highs against the dollar due to comments from ECB officials. It also mentions the Australian dollar falling after weak economic data from China and Japan. Technical analysis and trading recommendations are provided for the GBP/USD and EUR/USD currency pairs.

1. EPIC RESEARCH REPORT
DAILY INTERNATIONAL FOREX
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11-MAR-2014

2. INTERNATIONAL CURRENCY BUZZ
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➔ Forex - Euro nears 2-1/2 year highs against dollar
➔
Forex - AUD/USD lower after weak China, Japan data
➔
Forex - NZD/USD edges lower in risk-off trade
EUR/USD
●
EUR/USD hit session highs of 1.3898 and was last up 0.09% to 1.3890.The pair was likely to find support at
1.3851, Friday’s low and resistance at 1.3915, Friday’s high and the strongest level since October 31, 2009.saying
economic conditions did not support tightening, despite the low inflation outlook for the euro area.The euro’s
gains were offset after data on Friday showed that the U.S. economy added 175,000 jobs in February, well above
expectations for 149,000 new jobs. The strong figure indicated that the Federal Reserve is likely to continue to
scale back its stimulus program, which has weighed on the value of the dollar.
GBP/USD
➔
AUD/USD hit 0.9023 during late Asian trade, the pair's lowest since March 6; the pair subsequently consolidated
at 0.9028, retreating 0.46%.The pair was likely to find support at 0.8941, the low of March 5 and resistance at
0.9134, the high of March 7 and a four-month high.Data released over the weekend showed that Chinese exports
fell 18.1% on a year-over-year basis in February, confounding expectations for a 6.8% increase, following a rise
of 10.6% in January.China is Australia's biggest export partner.A separate report showed that the annual rate of
inflation in China slowed to 2.0% in February, from 2.5% in January.The data added to fears over a slowdown in
the world’s second largest economy, and overshadowed last Friday’s stronger-than-forecast U.S. jobs report for
February.The U.S. economy added 175,000 jobs in February, the Labor Department reported, well above
expectations for 149,000 new jobs.In Japan, data on Monday showed that the country posted record current
account deficit of 1.589 trillion yen in January and fourth quarter growth was revised down.

3. DAILY ECONOMIC DATA
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4. EPIC'S ANALYST SPEAKS
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GBP/USD Hourly Chart
INTRADAY OUTLOOK
Support: 1.6610
Resistance: 1.6770
RECOMMENDATION:
1. Buy GBP/USD Above 1.6710- TG: 1.6730/ 1.6770 SL 1.6670
2. Sell GBP/USD Below 1.6610- TG: 1.6590/ 1.6560 SL 1.6650

5. EPIC'S ANALYST SPEAKS
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EUR/USD Hourly Chart
INTRADAY OUTLOOK
Immediate Support: 1.3750
Immediate Resistance: 1.3800
RECOMMENDATION:
1. Buy EUR/USD Above 1.3900- TG: 1.3920/1.3960 SL 1.3860
2. Sell EUR/USD Below 1.3850- TG: 1.3830/1.3790 SL 1.3890

6. DISCLAIMER
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