08-20-2019, 06:00 AM
Technical Overview of USD/CAD, USD/JPY and EUR/USD Currency Pair
USD CAD
USD traded lower against CAD and closed at 1.3323.
Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.
According to the Analysis, pair is expected to find support at 1.3270 and a fall through could take it to the next support level of 1.3250. The pair is expected to find its first resistance at 1.3304 and a rise through could take it to the next resistance level of 1.3338.
USD JPY
USD traded lower against JPY and closed at 106.62.
EUR USD
EUR traded higher against USD and closed at 1.1087.
According to the Analysis, pair is expected to find support at 1.1075 and a fall through could take it to the next support level of 1.1066. The pair is expected to find its first resistance at 1.1105, and a rise through could take it to the next resistance level of 1.1114.
USD CAD
USD traded lower against CAD and closed at 1.3323.
Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.
According to the Analysis, pair is expected to find support at 1.3270 and a fall through could take it to the next support level of 1.3250. The pair is expected to find its first resistance at 1.3304 and a rise through could take it to the next resistance level of 1.3338.
USD JPY
USD traded lower against JPY and closed at 106.62.
FOMC stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy.
According to the Analysis, pair is expected to find support at 106.36 and a fall through could take it to the next support level of 106.25. The pair is expected to find its first resistance at 106.70, and a rise through could take it to the next resistance level of 106.81.
EUR USD
EUR traded higher against USD and closed at 1.1087.
According to the Analysis, pair is expected to find support at 1.1075 and a fall through could take it to the next support level of 1.1066. The pair is expected to find its first resistance at 1.1105, and a rise through could take it to the next resistance level of 1.1114.