Forex Market Updates as on Monday October 09, 2017

Posted by: In: Market News 09 Oct 2017 Comments: 0

In view of Imre Speizer, Research Analyst at Westpac, NZD/USD retains downside risks, thanks to a recovering US dollar plus NZ election uncertainty.

NZD/USD pair is seen making minor-recovery attempts above 0.7050 levels, although lacks follow-through amid downbeat Chinese services PMI release and renewed North Korea risks.

EUR/USD pair set-off a brand new week on a positive footing, as the bulls aim to take on the post-NFP recovery towards 1.1800 on the Eurozone Sentix Investor Confidence data release.

GBP/USD was offered on Friday on fears that UK Prime Minister Theresa May would be forced out of her party. The currency pair dropped to a low of 1.3027 on Friday and ended the week at 1.3064 levels.

AUD/USD surrendered gains and dropped to a low of 0.7765 after China Caixin/Markit September services PMI printed at a 21-month low of 50.6.

Gold (XAU/USD) prices clocked a 8-day high of $1283.50 in Asia on the back of weak China services PMI and renewed North Korea fears.

 

Daily Support & Resistance Level

Currency Pair S3 S2 S1 Pivot Points  R1 R2 R3
EUR/USD 1.1725 1.1730 1.1734 1.1739 1.1744 1.1748 1.1753
USD/JPY 112.17 112.30 112.39 112.52 112.65 112.74 112.87
GBP/USD 1.3064 1.3072 1.3077 1.3085 1.3093 1.3098 1.3106
USD/CHF 0.9769 0.9773 0.9776 0.9780 0.9784 0.9787 0.9791
NZD/USD 0.7053 0.7058 0.7062 0.7067 0.7072 0.7076 0.7081
AUD/USD 0.7767 0.7770 0.7773 0.7776 0.7779 0.7782 0.7785
XAU/USD 1274.49 1275.32 1275.84 1276.67 1277.50 1278.02 1278.85
CRUDE OIL WTL 49.20 49.27 49.32 49.39 49.46 49.51 49.58

 

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