USD Overview

Yesterday, USD strengthened against AUD, NZD, JPY and CHF while weakened against GBP, EUR and CAD.

The Durable Goods Orders m/m data will be released later at 2030 (SGT).

  • Core Durable Goods Orders m/m (Forecast: 1.0%, Previous: 2.6% revised from 2.4%)
  • Durable Goods Orders m/m (Forecast: 1.1%, Previous: 11.4% revised from 11.2%)

NZD/USD Outlook

Overall, NZD/USD is ranging across. Recently, NZD/USD trended lower and bounced off the support zone of 0.65200.

NZD/USD’s next support zone is at 0.65200 and the next resistance zone is at 0.67600.
Look for short-term buying opportunities of NZD/USD.


AUD/USD Outlook

Overall, AUD/USD is trending downwards. Recently, AUD/USD trended lower, breaking the support zone of 0.71000.

AUD/USD’s next support zone is at 0.69800 and the next resistance zone is at 0.71000.
With the recent expectation that the Reserve Bank of Australia will be cutting interest rate during their next monetary policy meeting in October, look for selling opportunities of AUD/USD.


USD/JPY Outlook

Overall, USD/JPY is trending downwards. Recently, USD/JPY trended upwards into the resistance zone of 105.400.

Currently, USD/JPY is testing the resistance zone of 105.400 and the next support zone is at 104.200.
Look for buying opportunities of USD/JPY if it breaks the resistance zone of 105.400.


EUR/USD Outlook

Overall, EUR/USD is trending downwards. Recently, EUR/USD broke below the key level of 1.17.

EUR/USD’s next support zone is at 1.15300 and the next resistance zone is at 1.17800.
Look for selling opportunities of EUR/USD.


GBP/USD Outlook

Overall, GBP/USD is trending downwards. Recently, GBP/USD tested but failed to break below the key level of 1.27.

GBP/USD’s next support zone is at 1.26500 and the next resistance zone is at 1.28000.
If GBP/USD breaks below the key level of 1.27, look for short-term selling opportunities.


USD/CAD Outlook

Overall, USD/CAD is trended upwards. Recently, USD/CAD bounced down from the key level of 1.34.

Currently, USD/CAD is testing the support zone of 1.33500 and the next resistance zone of 1.35100.
Look for buying opportunities of USD/CAD if it bounces off the support zone of 1.33500 and breaks above the key level of 1.34.


GBP/JPY Outlook

Overall, GBP/JPY is trending downwards. Recently, GBP/JPY bounced off the support zone of 133.780.

Currently, GBP/JPY moving towards the key level of 135. Its next support zone is at 133.780 and the next resistance zone of 136.200.
Look for selling opportunities of GBP/JPY if it fails to break above the key level of 135.


EUR/JPY Outlook

Overall, EUR/JPY is trending downwards. Recently, EUR/JPY has been ranging across.

Currently, EUR/JPY is testing to break above the key level of 123. Its next support zone is at 121.700 and the next resistance zone is at 124.600.
Look for selling opportunities of EUR/JPY if it fails to break above the key level of 123.


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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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