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Friday, October 9th
EUR/USD was slightly higher after release of Fed minutes. The pair traded in between 1.1238 and 1.l326 before settling at its current level 1.1283. During the September monetary policy meeting, the FOMC voted nearly unanimously to leave the interest rate unchanged, making it the 55th consecutive month that the rates were left at record-lows. Among the concerns over Chinese slowdown and inflation remaining below targeted goal of 2%, Fed decided to postpone the normalization of monetary policy. The support and resistance levels are located at 1.1199 and 1.1405, respectively.
NZD/USD prices rallied as lower demand for the dollar was supporting the demand for riskier assets, while causing the rise in the oil prices as well. The Kiwi is changing hands at 0.6692, the pair’s highest since August 21.The recovery of NZD was not even diminished by the lower than expected volume of home loans. Ahead in the day, there is nothing significant on the economic calendar to consider for placing orders in this instrument, apart from US import prices, which may have little effect on NZD. The support and resistance levels are seen at 0.6594 and 0.6776.
GBP/USD is higher after Thursday data came out in line with expectations in Britain, while dollar was feeling even more pressure amid FOMC minutes. Later in the day, the cable’s moves might be affected by the UK Trade Balance data. The support and resistance levels are located at 1.5227 and 1.5494 for this instrument today.
USD/CAD has finally dropped below 1.3010 as yesterday’s data showed housing starts were in green colour in Canada. Today’s employment change figures might provide even greater support to the loonie. It is the right time to start considering the mid-term short positions in this instrument, as 1.3010 was the key support level and in case we see the continuation of the current move, the trend reversal is well possible. The next support level might be found at 1.2862, while resistance is located at 1.3011.
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