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Friday, September 11th
AUD/USD was stronger today in Asia with no major data scheduled and investors are not showing activity ahead of the weekend Chinese retail sales and industrial production data for August. AUD/USD was at 0.7075, up 0.13%. The support and resistance levels are located at 0.6974 and 0.7200, respectively.
EUR/USD rose considerably on Thursday for its sixth consecutive successful session, as disappointing U.S. import-export data added further confusion as to whether the Federal Reserve will raise interest rates later next week. The currency pair traded in a broad range between 1.1132 and 1.1295 before settling at 1.1279. Currently, the pair is trading at 1.1300 ahead of Eurogroup meeting and US PPI data. The support can be found at 1.1170, while resistance is located at 1.1407.
NZD/USD was heading up this morning even though the NZ FPI contracted 0.5%. RBNZ offshore holdings were little changed comparing to the reading of last month at 64.60%. The pair reached as high as 0.6317 today and the bulls are currently defending the 0.63 level. Next week will provide data on NZ current account and GDP.
GBP/USD continued compensating its recent losses after despite a small contraction on Wednesday over negative manufacturing data. The pair has returned to its previous consolidation corridor in between 1.5690 and 1.5425. Ahead in the day, investors are viewing the British Inflation Expectation and the forecasts are mostly bullish.
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