Knowledge Convert Into Profit

Daily Technical All Currencies Pairs

Aussie Trading On A Weaker Footing In The Morning Session (04-Dec-2017 at 11:54:35 am)

The pair is expected to find support at 0.7560, and a fall through could take it to the next support level of 0.7517. The pair is expected to find its first resistance at 0.7643, and a rise through could take it to the next resistance level of 0.7683.

For the 24 hours to 23:00 GMT, the AUD rose 0.71% against the USD and closed at 0.7612 on Friday.

LME Copper prices declined 0.4% or $27.0/MT to $6734.0/MT. Aluminium prices rose 0.7% or $13.5/MT to $2046.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7604, with the AUD trading 0.11% lower against the USD from Friday’s close.

Moving ahead, market participants would anxiously await the Reserve Bank of Australia’s (RBA) interest rate decision, due tomorrow. Additionally, Australia’s AiG performance of services index for November and retail sales data for October, will also be eyed by traders.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

Euro-Zone's Manufacturing Sector Revised Higher To Hit A 17-Year High In November (04-Dec-2017 at 11:53:33 am)

The pair is expected to find support at 1.1835, and a fall through could take it to the next support level of 1.1798. The pair is expected to find its first resistance at 1.1924, and a rise through could take it to the next resistance level of 1.1976.

UK's Manufacturing Sector Activity Hit Its Highest Level Since August 2013 In November (04-Dec-2017 at 11:51:55 am)

The pair is expected to find support at 1.3427, and a fall through could take it to the next support level of 1.3383. The pair is expected to find its first resistance at 1.3529, and a rise through could take it to the next resistance level of 1.3587.

Japanese Yen Trading Lower In The Asian Session (04-Dec-2017 at 11:50:48 am)

The pair is expected to find support at 111.81, and a fall through could take it to the next support level of 110.86. The pair is expected to find its first resistance at 113.30, and a rise through could take it to the next resistance level of 113.84.

Swiss Franc Reverses Its Gains In The Morning Session (04-Dec-2017 at 11:49:33 am)

The pair is expected to find support at 0.9750, and a fall through could take it to the next support level of 0.9675. The pair is expected to find its first resistance at 0.9886, and a rise through could take it to the next resistance level of 0.9947

Canadian Unemployment Rate Fell To Its Lowest In Nearly A Decade In November (04-Dec-2017 at 11:48:36 am)

The pair is expected to find support at 1.2635, and a fall through could take it to the next support level of 1.2556. The pair is expected to find its first resistance at 1.2843, and a rise through could take it to the next resistance level of 1.2972.

Muted USD Reaction To Tax Reform (04-Dec-2017 at 07:31:59 am)

Its been a roller coaster of despondency given how failing the dollar continues to trade post-tax reform headlines. The FX markets remain tacitly focused on US inflation which suggests a tax reform victory in the Senate may continue to have a muted dollar reaction as subdued inflation could ultimately weigh on US yields

Weekend Update (04-Dec-2017 at 07:30:37 am)

Washington continues to break creative new ground when it comes to political dysfunction. However, the Tump administration took a giant step forward toward achieving the first major legislative victory of his presidency after the Senate passed its tax plan in a 51-49 vote early on Saturday morning