USD Overview

Yesterday, USD strengthened against most major currencies except EUR, JPY and CHF.

The U.S. CPI m/m data will be released later at 2030 (SGT).

  • CPI m/m (Forecast: 0.3%, Previous: 0.6%)
  • Core CPI m/m (Forecast: 0.2%, Previous: 0.6%)

NZD/USD Outlook

Overall, NZD/USD is ranging across. Recently, NZD/USD bounced down from the key level of 0.67.

NZD/USD next support zone is at 0.65200 and the next resistance zone is at 0.67600.
Look for selling opportunities of NZD/USD.


AUD/USD Outlook

Overall, AUD/USD is ranging across. Recently, AUD/USD bounced down from the key level of 0.73.

Currently, AUD/USD is testing the support zone of 0.72500 and the next resistance zone is at 0.73800.
Look for selling opportunities of AUD/USD if it breaks the support zone of 0.72500.


USD/JPY Outlook

Overall, USD/JPY is ranging across. Recently, USD/JPY bounced up from 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 strengthened and tested the key level of 1.19 after the European Central Bank downplayed the recent appreciation of EUR/USD, with a report stating that there’s no need to overreact to the recent rally. The ECB kept interest rate unchanged at 0.00% and no new changes in policy was carried out.

Yesterday, the European Commission released a statement following the extraordinary meeting of the EU-UK joint-committee highlighting that the Brexit Withdrawal Agreement is a legal obligation for the UK to implement with no exception, failing to do so will be considered breaking international law and will affect future relationship negotiations between both countries.

EUR/USD’s next support zone is at 1.17200 and the next resistance zone is at 1.19700.
With the optimism displayed by the ECB, look for short-term buying opportunities of EUR/USD.


GBP/USD Outlook

Overall, GBP/USD is ranging across. Recently, GBP/USD weakened further amid the tension arose from the Brexit trade talk between the UK and the EU.

The UK GDP m/m data (Forecast: 6.6%, Previous: 8.7%) will be released later at 1400 (SGT).

Currently, GBP/USD is testing the support zone of 1.28000 and the next resistance zone is at 1.30000.
Look for selling opportunities if GBP/USD breaks the support zone of 1.28000.


USD/CAD Outlook

Overall, USD/CAD is ranging across.

Currently, USD/CAD is testing the resistance zone of 1.31800 and the next support zone is at 1.29800.
Look for buying opportunities of USD/CAD if it breaks the resistance zone of 1.31800.


GBP/JPY Outlook

Overall, GBP/JPY is trending downwards. Recently, GBP/JPY trended lower into the support zone of 136.200 with the ongoing tension between the UK and the EU.

The UK GDP m/m data (Forecast: 6.6%, Previous: 8.7%) will be released later at 1400 (SGT).

Currently, GBP/JPY is testing the support zone of 136.200 and the next resistance zone is at 138.100.
Look for selling opportunities of GBP/JPY if it breaks the support zone 136.200.


EUR/JPY Outlook

Overall, EUR/JPY is ranging across. Recently, EUR/JPY strengthened after the European Central Bank downplayed the recent appreciation of EUR/USD, with a report stating that there’s no need to overreact to the recent rally. The ECB kept interest rate unchanged at 0.00% and no new changes in policy was carried out.

Yesterday, the European Commission released a statement following the extraordinary meeting of the EU-UK joint-committee highlighting that the Brexit Withdrawal Agreement is a legal obligation for the UK to implement with no exception, failing to do so will be considered breaking international law and will affect future relationship negotiations between both countries.

EUR/JPY’s next support zone is at 124.600 and the next resistance zone is at 126.700.
Look for short-term buying 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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