NZD/USD pair finally managed to conquer the 0.71 handle for the first time this week, as broad based US dollar sell-off continues to push the rates northwards.
GBP/USD pair entered a consolidative mode, following the upward spike to fresh weekly tops reached at 1.3266 levels, as attention turns towards the BOE credit conditions survey and US PPI data for fresh trading impetus today.
GBP/JPY breached the falling channel to the upside and clocked a high of 149.07 as investors ignore political uncertainty in the UK and focus on increasing the odds of a BOE rate hike in November.
AUD/JPY daily chart shows a basing pattern at 87.30 (61.8% Fib R of Aug 11 low – Sep 21 high) followed by a bullish move above the 50-day moving average.
EUR/USD pair rose for fourth straight day on Wednesday and almost touched 1.1881 (50% Fib R of 1.2092-1.1669).
The latest survey on oil markets, conducted by consultancy Deloitte Services, showed that a majority of the US oil executives expect crude oil prices to stay below $60 per barrel (bbl) through 2018.
Daily Support & Resistance Level
|Currency Pair||S3||S2||S1||Pivot Points||R1||R2||R3|
|CRUDE OIL WTL||50.23||50.54||50.73||51.04||51.35||51.54||51.85|