Forex Market Updates as on Thursday October 12, 2017

Posted by: In: Market News 12 Oct 2017 Comments: 0

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
EUR/USD 1.1769 1.1797 1.1815 1.1843 1.1871 1.1889 1.1917
USD/JPY 111.86 112.05 112.18 112.37 112.56 112.69 112.88
GBP/USD 1.3154 1.3179 1.3194 1.3219 1.3244 1.3259 1.3284
USD/CHF 0.9689 0.9708 0.9720 0.9739 0.9758 0.9770 0.9789
NZD/USD 0.7048 0.7063 0.7072 0.7087 0.7102 0.7111 0.7126
AUD/USD 0.7756 0.7771 0.7779 0.7794 0.7809 0.7817 0.7832
XAU/USD 1281.34 1284.75 1286.85 1290.26 1293.67 1295.77 1299.18
CRUDE OIL WTL 50.23 50.54 50.73 51.04 51.35 51.54 51.85

 

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