USD Overview

Yesterday, USD weakened against most major currencies except EUR, AUD and NZD.

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

  • CPI m/m (Forecast: 0.2%, Previous: 0.4%)
  • Core CPI m/m (Forecast: 0.2%, Previous: 0.4%)

NZD/USD Outlook

Overall, NZD/USD is ranging across. Recently, NZD/USD moved lower from yesterday’s high.

NZD/USD’s 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 moved down into the support zone of 0.71700.

Earlier today, it was reported that China has banned the imports of Australian thermal and coking coal indefinitely as trade tensions heightened between the two countries.

Currently, AUD/USD is testing the support zone of 0.71700 and the next resistance zone is at 0.73800.
Look for selling opportunities of AUD/USD if it breaks the support zone of 0.71700.


USD/JPY Outlook

Overall, USD/JPY is ranging across. Recently, USD/JPY moved into the support zone of 105.400.

Currently, USD/JPY is testing the support zone of 105.400 and the next resistance zone is at 106.800.
Look for selling opportunities of USD/JPY if it breaks the support zone of 105.400.


EUR/USD Outlook

Overall, EUR/USD is ranging across. Recently, EUR/USD moved down to the key level of 1.18.

The German ZEW Economic Sentiment data (Forecast: 74.1, Previous: 77.4) will be released later at 1700 (SGT).

Currently, EUR/USD is testing to break below the key level of 1.18. Its next support zone is at 1.17400 and the next resistance zone is at 1.19700.
If EUR/USD breaks below the key level of 1.18, look for short-term selling opportunities of EUR/USD.


GBP/USD Outlook

Overall, GBP/USD is trending downwards. Recently, GBP/USD broke the resistance zone of 1.30200.

Yesterday, UK Prime Minister Boris Johnson announced a three-tier COVID-19 restriction for England whereby different areas will be assigned one of the three tiers, each having different COVID-19 measures.

The UK employment data will be released later at 1400 (SGT).

  • Claimant Count Change (Forecast: 78.8K, Previous: 73.3K)
  • Average Earnings Index 3m/y (Forecast: -0.6%, Previous: -1.0%)
  • Unemployment Rate (Forecast: 4.3%, Previous: 4.1%)

Currently, GBP/USD is testing the support zone of 1.30200 and the next resistance zone is at 1.32200.
Look for buying opportunities of GBP/USD if it bounces off the support zone of 1.30200.


USD/CAD Outlook

Overall, USD/CAD is ranging across. Recently, USD/CAD bounced up from the key level of 1.31.

USD/CAD’s next support zone is at 1.30240 and the next resistance zone is at 1.32200.
Look for selling opportunities of USD/CAD.


GBP/JPY Outlook

Overall, GBP/JPY is ranging across.

Yesterday, UK Prime Minister Boris Johnson announced a three-tier COVID-19 restriction for England whereby different areas will be assigned one of the three tiers, each having different COVID-19 measures.

The UK employment data will be released later at 1400 (SGT).

  • Claimant Count Change (Forecast: 78.8K, Previous: 73.3K)
  • Average Earnings Index 3m/y (Forecast: -0.6%, Previous: -1.0%)
  • Unemployment Rate (Forecast: 4.3%, Previous: 4.1%)

GBP/JPY’s next support zone is at 136.200 and the next resistance zone is at 138.100.
Look for short-term buying opportunities of GBP/JPY.


EUR/JPY Outlook

Overall, EUR/JPY is ranging across.

The German ZEW Economic Sentiment data (Forecast: 74.1, Previous: 77.4) will be released later at 1700 (SGT).

Currently, EUR/JPY is testing the support zone of 124.600 and the next resistance zone of 126.700.
Look for selling opportunities of EUR/JPY if it breaks the support zone of 124.600.


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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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