Title - Here's What's Moving the Forex Market Today

Created 09/30/2019 at 09:02AM


GBP and JPY are the top G10 FX gainers today, up 0.13% and 0.08% vs the dollar while NZD and AUD are the top losers, down -0.52% and -0.24% vs the dollar.

 

The U.S. dollar gained versus the riskier currencies as China-U.S trade war and global political uncertainty kept investors in safe-haven currencies.

 

The New Zealand dollar fell to almost four-year lows after worse than expected business confidence highlighted the central bank need to ease further. The Australian dollar was also on a weaker footing ahead of RBA interest rate decision. The expectations are for a policy move to push the cash rate to an all-time low of 0.75%.

 

In the Asian equities space, the Nikkei 225 closed -0.56% lower at 21,755.84, Hang Seng closed 0.53% at 26092.27 and Kospi ended 0.64% at 2063.05. The European equities were trading mixed with the FTSE 0.08% at 7432.22, DAX -0.05% at 12375.2, and CAC 0.07% at 5644.66. In the rates market, global yields were trading mixed; the US 10-year yield was trading at 1.7043% and the Bund 10-year yield trading

 

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Daily Pivots for Key Currency Pairs

 
 

Economic Calendar

 
 

10-year Yields Chart (6-month)

 
 

USD-Index Daily Chart (6-month)

 
 

Brent Front Month Daily Chart (6-month)

 
 

Trade Weighted Basket Hourly (two-week)

 
 

(Content and Data by Tradermade)

 

Major Currency Pairs

 

EURUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.0965 for 1.0840
Short-term view: EUR/USD resistance at 1.0965, MACD and RSI are weakening. Hence, we see a move to 1.0840. Above 1.0965 to open 1.1025.

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2339 for 1.2265
Short-term view: GBP/USD resistance at 1.2339, MACD and RSI are weakening. We see risk of a dip to 1.2265, likely 1.2219. Above 1.2339 to open 1.2381.

 

USDJPY Chart (Two-week)

 
 

Strategy: Resistance at 108.01 for 107.48
Short-term view: USD/JPY has resistance around 108.01, MACD and RSI are mixed. Hence, we see a move lower to 107.48, likely 107.05. Above 108.01 opens 108.43.

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6781 for 0.6725
Short-term view: AUD/USD MACD and RSI are weakening, resistance at 0.6781 for a move lower towards 0.6725, likely 0.6650. Above 0.6781 we look for 0.6830.