USD Overview

Last Friday, USD weakened against most major currencies except GBP and CAD.

The U.S. CPI m/m data released last Friday indicated an increase in goods prices in August.

  • CPI m/m (Actual: 0.4%, Forecast: 0.3%, Previous: 0.6%)
  • Core CPI m/m (Actual: 0.4%, `Forecast: 0.2%, Previous: 0.6%)

NZD/USD Outlook

Overall, NZD/USD is ranging across.

The New Zealand Westpac Consumer Sentiment (Forecast: NA, Previous: 97.2) will be released tomorrow at 0400 (SGT).

Currently, NZD/USD is moving towards the key level of 0.67. Its next support zone is at 0.65200 and the next resistance zone is at 0.67600.
Look for buying opportunities of NZD/USD.


AUD/USD Outlook

Overall, AUD/USD is ranging across.

The Reserve Bank of Australia will be releasing the minutes for the previous monetary policy meeting tomorrow at 0930 (SGT).

Currently, AUD/USD is moving towards the key level of 0.73. Its next support zone is at 0.72500 and the next resistance zone is at 0.73800.
Look for buying opportunities of AUD/USD if it breaks above the key level of 0.73.


USD/JPY Outlook

Overall, USD/JPY is ranging across.

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


EUR/USD Outlook

Overall, EUR/USD is ranging across.

EUR/USD’s next support zone is at 1.17800 and the next resistance zone is at 1.19700.
Look for buying opportunities of EUR/USD.


GBP/USD Outlook

Overall, GBP/USD is trending downwards.

The UK GDP m/m data (Actual: 6.6%, Forecast: 6.6%, Previous: 8.7%) released last Friday indicated continued growth in the UK economy in August. Despite the third consecutive month of continued growth, the economy has only recovered just over half of the damage caused by COVID-19.

Today, the Internal Market Bill will be tabled in the UK Parliament. During this time, volatility is expected in GBP.

Currently, GBP/USD is testing the support zone of 1.28000 and the next resistance zone is at 1.30000.
Look for short-term 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 selling opportunities of USD/CAD if it bounces off the resistance zone of 1.31800.


GBP/JPY Outlook

Overall, GBP/JPY is trending downwards.

The UK GDP m/m data (Actual: 6.6%, Forecast: 6.6%, Previous: 8.7%) released last Friday indicated continued growth in the UK economy in August. Despite the third consecutive month of continued growth, the economy has only recovered just over half of the damage caused by COVID-19.

Today, the Internal Market Bill will be tabled in the UK Parliament. During this time, volatility is expected in GBP.

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.

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