Forex Market Updates as on Friday October 13, 2017

Posted by: In: Market News 13 Oct 2017 Comments: 0

NZD/USD pair remains volatile, but within range so far this Friday, having dipped to test the daily pivot near 0.7120 region, before meeting fresh buyers to head back towards 0.7150 levels. The spot is last seen exchanging hands at 0.7137, up 0.14% on the day.

GBP/USD rallied to a high of 1.3291 on Thursday after reports hit the wires that the EU is ready to do its bit in helping the UK avoid ‘Hard Brexit’.

EUR/USD pair staged a minor comeback from near 1.1825 region in Asia, as the bulls found some support from the latest chatter over the ECB QE taper.

AUD/USD continues the ascent; now trading at 0.7840, despite the RBA’s cautious tone and a weaker-than-expected China trade data release.

AUD/JPY remains bid and is working hard to break above 87.88 (50% Fib retracement of the Aug-Sep rally) even though the Reserve Bank of Australia (RBA) Financial Stability Review (FSR) warned that higher interest rates could hit heavily-indebted households.

Oil prices rose on Friday as both U.S. crude production and inventories declined, pointing towards a tightening market.

Gold prices edged higher to a more than two-week high on Thursday as focus shifted to U.S inflation figures due on Friday which are expected to give more clues on monetary policy.

 

Daily Support & Resistance Level

Currency Pair S3 S2 S1 Pivot Points  R1 R2 R3
EUR/USD 1.1790 1.1811 1.1824 1.1845 1.1866 1.1879 1.1900
USD/JPY 111.95 112.08 112.15 112.28 112.41 112.48 112.61
GBP/USD 1.3057 1.3122 1.3161 1.3226 1.3291 1.3330 1.3395
USD/CHF 0.9690 0.9710 0.9722 0.9742 0.9762 0.9774 0.9794
NZD/USD 0.7064 0.7086 0.7099 0.7121 0.7143 0.7156 0.7178
AUD/USD 0.7783 0.7798 0.7806 0.7821 0.7836 0.7844 0.7859
XAU/USD 1286.05 1289.00 1290.81 1293.76 1296.71 1298.52 1301.47
CRUDE OIL WTL 49.69 50.06 50.29 50.66 51.03 51.26 51.63

 

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