AUD/USD pair extended its recent downward trajectory and dropped to near four-week lows, albeit has managed to recover few pips thereafter.
Choppy week for GBP/USD so far, alternating gains with losses in the bottom of the recent range around the 1.3000 handle.
USD/JPY pair remained heavily offered for the fourth consecutive session and has now slipped below the 109.00 handle amid prevalent risk-off environment.
EUR/USD pair is seen moving back and forth in a 20-pips narrow range so far this Friday, as the bulls take a breather from the recent upsurge and await the US CPI release for the next direction.
The sell-off in the GBP/USD following the bearish rising wedge pattern breakdown appears to have run out of steam around 1.2965, which is the 23.6% Fib support of the rally from 1.1986 to 1.3268.
EUR/USD pair dropped to a low of 1.1704 yesterday before ending the day with moderate gains at 1.1772 on the back of a dismal US PPI reading.
Oil futures on NYMEX failed once again to hold above $ 50 mark, and from there turned south to book more-than 2% loss a day before, in response to re-emergence of oversupply concerns.
Gold rose for the third day in a row and is about to post the highest close since June 6, as it hovers around $1,285/oz (up 0.60%) amid risk aversion, soft US inflation data, and a weak US dollar.
Daily Support & Resistance Level
|Currency Pair||S3||S2||S1||Pivot Points||R1||R2||R3|
|CRUDE OIL WTL||48.11||48.14||48.16||48.19||48.22||48.24||48.27|