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Tuesday, September 20th
EUR/USD
Current price: 1.1188 (0.1%)
Session range: Open 1.1175 High 1.1214 Low 1.1168
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1126 R. 1.1220
Main drivers: US Housing Starts, US Building Permits
Overview: The pair has performed sharp upsurge breaking through the level of 1.1200 as aggressive sell-off sentiments have gripped the dollar in early Europe. Moreover, seems that markets have majorly ignored poor German PPI this morning providing no bearish impetus to the euro. However, amid of absence of any fundamental releases from Euroland the pair will follow market sentiments that are mainly driven by speculations of Fed rate hike this Wednesday, while US will provide data from housing market later in NY session.
USD/JPY
Current price: 101.74 (-0.2%)
Session range: Open 101.92 High 102.08 Low 101.53
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 101.14 R. 102.80
Main drivers: US Housing Starts, US Building Permits
Overview: Today the pair keeps its bearish tone dipping under the level of 102.00 as chances of Fed rate hike this Wednesday are fading. However, prevailing uncertainty around BOJ monetary policy decision also is limiting pair’s movement range. Moreover, the pair will keep thin trading range, as traders remain cautious ahead of both central banks decisions. Expectedly, BOJ and the Fed announcements will trigger fresh wave of volatility across the market that will knock out the pair out of its mid-term tight trading range.
USD/CHF
Current price: 0.9775 (-0.3%)
Session range: Open 0.9799 High 0.9812 Low 0.9761
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9766 R. 0.9836
Main drivers: US Housing Starts, US Building Permits
Overview: The pair fails to keep its trading range above the level of 0.9800, which the dollar has been holding since Friday. The pair has dropped to its session lows that are marked at 0.9767 spot as strong selling pressure behind the dollar hits the market this Tuesday. Moreover, risk aversion sentiments are gathering pace lately supporting Swiss franc’s safe haven status. Nothing important is scheduled in Swiss economic calendar so the pair will follow global market sentiments, while US will announce housing data later in NY session.
NZD/USD
Current price: 0.7341 (0.7%)
Session range: Open 0.7293 High 0.7358 Low 0.7291
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.7214 R. 0.7364
Main drivers: US Housing Starts, US Building Permits
Overview: Currently the pair is expanding retreat from its overnight lows as the dollar remains suspended on the back of diminishing hopes of the Fed rate hike this Wednesday. However, the upside momentum is also capped as lower oil prices are pressuring on the pair this morning. Now all focus shifts to the Fed Interest Rate Decision that will able determine mid-term pair’s direction, however, RBNZ will also announce its decision Thursday in early Asia that will be closely watched for fresh impetus.
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