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Friday, October 16th
AUD/USD is trading lower after RBA comments on weaker economic view of China and emerging economies. The pair reached to as high as 0.7363 in course of yesterday’s trade before falling to 0.7291 this morning. The support and resistance levels are located at 0.7261 and 0.7433.
EUR/USD fell sharply amid US Core CPI figures coming out in green colour. Despite being higher than expected, US inflation is still modest, which adds to the dovish tones in the possible rate hike discussions. Later in the day, euro zone CPI is being published. No significant data is expected out of US. The support and resistance levels are located at 1.1250 and 1.1497.
USD/CAD is changing hands at 1.2867 having passed the strong support level at 1.3010. Ahead in the day, the Canadian bureau of statistics is publishing the Foreign Securities Purchases and Manufacturing Sales, which is likely to have visible effect on the price. Next support level is seen at 1.2731, while resistance is now at 1.3010.
NZD/USD was slightly lower in Asia following the moves of AUD. The losses were limited as higher than expected N.Z. CPI figures provided support to the pair. New Zealand CPI came out at 0.3% (QoQ) versus expectations of 0.2%. The pair is likely to gain support at 0.6785, while resistance is located at 0.6967.
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