AUD/USD is trading at 0.69890, 0.02% down since previous day close. The Aussie slightly gained on Tuesday post release country’s NAB Business Confidence data which climbed to 7 from 2 in the previous month while the Westpac Consumer Sentiment remained steady at -3.0%. Globally, the result of U.S inflation data will remain vital for major currencies which is due to be released on Wednesday. The pair tested higher levels last week amid chances of slowdown in rate hike process as mentioned by Fed Chair in last meeting. As seen in the weekly chart, the pair is trading near MA (10) & MA (20) which shows the possibility of reversal if sustained or a strong breakout if breached.
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Near Day |
R3 | 0.71878 |
R2 | 0.70764 |
R1 | 0.70324 |
Turnaround | 0.69650 |
S1 | 0.69210 |
S2 | 0.68536 |
S3 | 0.67422 |
Gold is trading at $1786.20, 0.09% up since previous day close. The precious metals seem to be trading higher near $1800 mark against steady USD as traders waits for the result of U.S CPI data which is to be issued on Wednesday. This will widely contribute in the FOMC interest rate hike decision in the next meeting in the month of September. Last week, the Gold surges up after FOMC Chair Powell hinted for gradual rate hike stance in near future after hiking an interest rate by 75bps. However, the rising conflicts between China & Taiwan may push up the safe haven instruments higher. As seen in the chart, the Gold reversed up after testing the lower levels & hence, buying on corrective dips may be seen further.
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Near Day |
R3 | 1822.24000 |
R2 | 1802.94000 |
R1 | 1796.10000 |
Turnaround | 1783.64000 |
S1 | 1776.80000 |
S2 | 1764.34000 |
S3 | 1745.04000 |
UK100 is trading at 7438.3, 0.18% up since previous day close. The mixed trading can be seen in UK100 amid buying pressure in other global peers. The traders & investors expect a rate hike of more 75bps in the next Fed meeting despite strong U.S NFP data release. Last week, the better earnings results & cooling down Oil prices led buying pressure in equity markets. The U.K’s BRC Retail Sales Monitor grew by 1.6% against the expectation -1.5%. Besides this, ongoing process of U.K Prime Minister Elections & U.S CPI data release event will remain significant for UK100 & Pound as well. As seen in the chart, the UK100 is trading above the short term Moving Averages of period 10 & 20 which indicates the further buying in UK100 on daily basis.
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Near Day |
R3 | 7572.60000 |
R2 | 7503.60000 |
R1 | 7467.33000 |
Turnaround | 7435.00000 |
S1 | 7398.00000 |
S2 | 7366.20000 |
S3 | 7297.40000 |
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