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Friday, September 4th
AUD/USD was one of the biggest losers this morning as traders switched to less risky assets ahead of high-volatility session on Friday. The pair opened trades at 0.7015 and subsequently fell to 0.6976. With higher degree of market volatility in the recent time, it is expected that risk aversion will become a more common practice in the near future. The closest support level is located at 0.6933, and resistance can be found at 0.7076.
Yen strengthened despite lower than expected average cash earnings in Japan. The data came out in red colour at 0.6% versus 2.3% forecast. The fall of USD/JPY was stipulated by traders seeking less risky assets for their investments. Meanwhile, overtime pay rose 0.60% in Japan after 0.40% contraction in course of last month. The pair is currently trading at 119.43 with support and resistance levels located at 118.72 and 120.69, respectively.
GBP/USD fell even further to 1.5240 this morning. Yesterday’s data showed modest growth of Services PMI in Britain, which came out below the expected figure. Next week will be highly volatile after MPC session when members will vote for/against the interest rate hike decision. The pair is likely to find support at 1.5115 and resistance at 1.5363.
EUR/USD is changing hands at 1.1129 after highly volatile trade this morning. Ahead in the day, we will see some harsh moves on euro zone GDP numbers publication and Non-Farm Payrolls data. The single currency came under pressure after ECB indicated on Thursday that it could expand it quantitative easing program amid increased downside risks to its inflation outlook. The support and resistance levels are located at 1.0971 and 1.1239, respectively.
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