USD Overview

Yesterday, USD strengthened against most major currencies except NZD and CAD.

The ADP Non-Farm Employment Change data (Actual: 428K, Forecast: 1250K, Previous: 212K revised from 167K) released yesterday indicated a continued growth in private payroll in August but is far from the expected figure.
The ISM Non-Manufacturing PMI data (Forecast: 57.0, Previous: 58.1) will be released later at 2200 (SGT).


NZD/USD Outlook

Overall, NZD/USD is trending upwards. Recently, NZD/USD has been ranging across.

NZD/USD’s next support zone is at 0.66700 and the next resistance zone is at 0.69000.
Look for short-term selling opportunities of NZD/USD.


AUD/USD Outlook

Overall, AUD/USD is trending upwards.

The Australian Retail Sale m/m data (Forecast: 3.3%, Previous: 3.3%) will be released tomorrow at 0930 (SGT).

AUD/USD’s next support zone is at 0.72500 and the next resistance zone is at 0.73800.
Look for selling opportunities of AUD/USD.


USD/JPY Outlook

Overall, USD/JPY is ranging across. Recently, USD/JPY broke above the key level of 106.

USD/JPY’s next support zone is at 105.400 and the next resistance zone is at 106.800.
Look for buying opportunities of USD/JPY.


EUR/USD Outlook

Overall, EUR/USD is ranging across. Recently, EUR/USD broke below the key level of 1.19.

The euro area Retail Sales m/m data (Forecast: 1.3%, Previous: 5.7%) will be released later at 1700 (SGT).

Currently, EUR/USD’s next support zone is at 1.17200 and the next resistance zone is at 1.19700.
Look for selling opportunities of EUR/USD.


GBP/USD Outlook

Overall, GBP/USD is trending upwards. Recently, GBP/USD moved lower and bounced up from the key level of 1.33.

During his testification yesterday, Bank of England Governor Andrew Bailey highlighted that inflation in the UK is likely to be higher for the time being as many businesses have not passed a value-added tax cut to customers as much as had been expected.

Governor Bailey will be speaking about the future of cryptocurrencies later at 2200 (SGT). During this time, there may be volatility in GBP.

GBP/USD’s next support zone is at 1.32200 and the next resistance zone is at 1.34600.
Look for short-term selling opportunities of GBP/USD.


USD/CAD Outlook

Overall, USD/CAD is trending downwards. Recently, USD/CAD bounced down from the key level of 1.31.

The Canadian Trade Balance data (Forecast: -2.5B, Previous: -3.2B) will be released later at 2030 (SGT).

USD/CAD’s next support zone is at 1.29800 and the next resistance zone is at 1.31800.
Look for selling opportunities of USD/CAD.


GBP/JPY Outlook

Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced off the support zone of 141.200.

During his testification yesterday, Bank of England Governor Andrew Bailey highlighted that inflation in the UK is likely to be higher for the time being as many businesses have not passed a value-added tax cut to customers as much as had been expected.

Governor Bailey will be speaking about the future of cryptocurrencies later at 2200 (SGT). During this time, there may be volatility in GBP.

GBP/JPY’s next support zone is at 141.200 and its next resistance zone is at 144.000.
Look for short-term buying opportunities of GBP/JPY.


EUR/JPY Outlook

Overall, EUR/JPY is trending upwards. Recently, EUR/JPY trended lower and broke below the key level of 126.

The euro area Retail Sales m/m data (Forecast: 1.3%, Previous: 5.7%) will be released later at 1700 (SGT).

EUR/JPY’s next support zone is at 124.600 and the next resistance zone is at 126.700.
Look for selling opportunities of EUR/JPY.


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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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