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Re: Daily market news by Cozfx

COZFX: Loonie trading a tad lower in the Asian session

COZforex: For the past trading session, the USD declined 0.18% against the CAD and closed at 1.3460.

In the Asian session (at GMT0300), the pair is trading at 1.3462, with the USD trading slightly higher against the CAD from yesterday’s close.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CAD is expected to find support at 1.3450 and a fall through could take it to the next support level of 1.3437; Meanwhile, the pair is expected to find its first resistance at 1.3481, and a rise through could take it to the next resistance level of 1.3499.

Trading trend in the Loonie today, is expected to be determined by Canada’s existing home sales and the consumer price index, both for April, slated to release later in the day.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Crude oil trading lower, ahead of EIA’s weekly crude oil stockpiles data

COZforex: For the past trading session, Crude Oil declined 0.57% against the USD and closed at USD62.94 per barrel, after the American Petroleum Institute reported that US crude oil inventories advanced 2.4 million barrels to 480.2 million barrels in the week ended 17 May 2019.

In the Asian session (at GMT0300), the pair is trading at 62.60, with oil trading 0.54% lower against the USD from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: The crude oil is expected to find support at 62.15 and a fall through could take it to the next support level of 61.69; Meanwhile, the pair is expected to find its first resistance at 63.42, and a rise through could take it to the next resistance level of 64.23.

Crude oil is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Aussie reverses its losses in the Asian session

COZforex: For the past trading session, the AUD declined 0.22% against the USD and closed at 0.6919.

In commodities, LME Copper prices remained unchanged at $5919.0/MT; Meanwhile, Aluminium prices traded flat at $1761.5/MT.

In the Asian session (at GMT0300), the pair is trading at 0.6923, with the AUD trading 0.06% higher against the USD from yesterday’s close.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: AUD/USD is expected to find support at 0.6911 and a fall through could take it to the next support level of 0.6899; Meanwhile, the pair is expected to find its first resistance at 0.6937, and a rise through could take it to the next resistance level of 0.6951.

Amid lack of economic releases in Australia today, traders would focus on global macroeconomic events for further direction.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Germany’s consumer price inflation slowed in May

COZforex: For the past trading session, the EUR rose 0.32% against the USD and closed at 1.1169 on Friday.

Macroeconomic data showed that Germany’s preliminary consumer price inflation slowed to 0.2% on a monthly basis in May, amid decline in services and household energy and undershooting market expectations for a gain of 0.3%. In the prior month, the CPI had recorded a level of 1.0%. Moreover, the nation’s retail sales increased 4.0% on an annual basis in April, compared to a drop of 2.1% in the previous month. Market participants had envisaged retail sales to register a rise of 1.4%.

In the US, data indicated that the Chicago Fed Purchasing Managers’ Index climbed to a level of 54.2 in May, more than market consensus for a rise to a level of 54.0. In the previous month, the index had registered a level of 52.6. Further, the US final Reuters/Michigan consumer sentiment index advanced to a level of 100.0 in May, less than market expectations for a rise to a level of 101.5. The index had recorded a level of 97.2 in the prior month, while preliminary figures had recorded a rise to a level of 102.4. Additionally, the nation’s personal spending rose 0.3% on a monthly basis in April, higher than market expectations for a gain of 0.2%. Personal spending had recorded a revised advance of 1.1% in the previous month. Also, the nation’s personal income climbed 0.5% on a monthly basis in April, surpassing market anticipations for an increase of 0.3%. In the preceding month, personal income had registered a rise of 0.1%.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1146 and a fall through could take it to the next support level of 1.1104; Meanwhile, the pair is expected to find its first resistance at 1.1210, and a rise through could take it to the next resistance level of 1.1232.

Looking ahead, traders would await the Markit manufacturing PMI for May, scheduled to release across the euro-bloc. Later in the day, the US Markit manufacturing PMI and the ISM manufacturing, both for May, followed by construction spending data for April, will garner significant amount of investor’s attention.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: UK’s ILO unemployment rate remained unchanged at a 45-year low rate in February-April 2019

COZforex: For the past trading session, the GBP rose 0.27% against the USD and closed at 1.2723.

On the data front, UK’s ILO unemployment rate remained unchanged at a 45-year low rate of 3.8% in the February-April 2019 period, meeting market expectations. Meanwhile, Britain’s average earnings including bonus advanced 3.1% on an annual basis in the three-months ended April 2019, compared to a gain of 3.2% in the January-March 2019 period. Market participants had anticipated average earnings including bonus to register a climb of 3.0%.

In the Asian session (at GMT0300), the pair is trading at 1.2718, with the GBP trading marginally lower against the USD from yesterday’s close.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: GBP/USD is expected to find support at 1.2680 and a fall through could take it to the next support level of 1.2642; Meanwhile, the pair is expected to find its first resistance at 1.2746, and a rise through could take it to the next resistance level of 1.2774.

Moving ahead, traders would keep an eye on UK’s RICS house price balance for May, set to release overnight.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Swiss Franc trading lower in the Asian session

COZforex: For the past trading session, the USD marginally declined against the CHF and closed at 0.9987.

In economic news, Switzerland’s total sight deposits slightly rose to a level of CHF578.5 billion in the week ended 14 June 2019, from CHF578.1 billion in the previous week.

In the Asian session (at GMT0300), the pair is trading at 0.9976, with the USD trading 0.11% lower against the CHF from yesterday’s close.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CHF is expected to find support at 0.9961 and a fall through could take it to the next support level of 0.9947; Meanwhile, the pair is expected to find its first resistance at 0.9995, and a rise through could take it to the next resistance level of 1.0015.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.

The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Japan’s machine tool orders declined for the 8th consecutive month in May

COZforex: For the past trading session, the USD declined 0.71% against the JPY and closed at 107.30.

Data indicated that Japan’s final machine tool orders plunged 27.3% on an annual basis in May, confirming the preliminary print and declining for the 8th consecutive month. In the preceding month, machine tool orders had recorded a drop of 33.4%.

In the Asian session (at GMT0300), the pair is trading at 107.06, with the USD trading 0.22% lower against the JPY from yesterday’s close.

Overnight data showed that Japan’s national consumer price index rose 0.7% on an annual basis in May, in line with market expectations. In the prior month, the CPI had registered a gain of 0.9%. Meanwhile, the nation’s flash manufacturing PMI contracted to a level of 49.5 in June, marking its biggest fall in 2 years and compared to a reading of 49.8 in the prior month.

In technical analysis, COZFX strategist Nigel Boynton said: USD/JPY is expected to find support at 106.79 and a fall through could take it to the next support level of 106.51; Meanwhile, the pair is expected to find its first resistance at 107.61, and a rise through could take it to the next resistance level of 108.15.

Going forward, traders would await the Bank of Japan’s monetary policy minutes along with Japan’s retail trade, large retailers’ sales, jobless rate and industrial production, all set to release next week.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Loonie trading a tad lower in the Asian session


COZforex: For the past trading session, the USD declined 0.39% against the CAD and closed at 1.3124.

In the Asian session (at GMT0300), the pair is trading at 1.3127, with the USD trading marginally higher against the CAD from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CAD is expected to find support at 1.3093 and a fall through could take it to the next support level of 1.3060; Meanwhile, the pair is expected to find its first resistance at 1.3174, and a rise through could take it to the next resistance level of 1.3222.

Trading trend in the Loonie today is expected to be determined by Canada’s CFIB business barometer for June, scheduled to release later in the day.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: RBA trimmed its key interest rate to 1.00% from 1.25%

COZFOREX: For the past trading session, the AUD declined 0.49% against the USD and closed at 0.6967.

In commodities, LME Copper prices rose 0.5% or $27.0/MT to $5999.0/MT; Meanwhile, Aluminium prices rose 0.3% or $4.5/MT to $1778.0/MT.

In the Asian session (at GMT0300), the pair is trading at 0.6977, with the AUD trading 0.14% higher against the USD from yesterday’s close.

The Reserve Bank of Australia’s (RBA) slashed its benchmark interest rate for the second consecutive month to 1.00% from 1.25%, as widely expected in a move to support economic momentum.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.6953 and a fall through could take it to the next support level of 0.6928; Meanwhile, the pair is expected to find its first resistance at 0.7005, and a rise through could take it to the next resistance level of 0.7032.

Going forward, traders would await Australia’s AiG performance of service index, the CBA services PMI, both for June along with building approvals and trade balance data for May, slated to release overnight.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Yellow metal extends its losses in the morning session

COZFOREX: For the past trading session, Gold declined 1.61% against the USD and closed at USD1402.00 per ounce on Friday, amid broad strength in the US dollar.

In the Asian session (at GMT0300), the pair is trading at 1400.10, with gold trading 0.14% lower against the USD from Friday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: Gold is expected to find support at 1385.07 and a fall through could take it to the next support level of 1370.03; Meanwhile, Gold is expected to find its first resistance at 1418.67, and a rise through could take it to the next resistance level of 1437.23.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.


(COZ Forex UK)

Re: Daily market news by Cozfx

COZFX: Crude oil trading on a positive footing this morning

COZFOREX: For the past trading session, Crude Oil rose 3.30% against the USD and closed at USD60.42 per barrel, after the US Energy Information Administration (EIA) report revealed that crude supplies fell by 9.5 million barrels for the week ended 5 July 2019.

In the Asian session (at GMT0300), the pair is trading at 60.59, with oil trading 0.28% higher against the USD from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: The crude oil is expected to find support at 59.20 and a fall through could take it to the next support level of 57.81; Meanwhile, the crude oil is expected to find its first resistance at 61.34, and a rise through could take it to the next resistance level of 62.09.

Crude oil is trading above its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Euro-zone’s trade surplus expanded more-than-estimated in May

COZFOREX: For the past trading session, the EUR declined 0.45% against the USD and closed at 1.1211.

On the macro front, Euro-zone’s seasonally adjusted trade surplus widened to €20.2 billion in May, surpassing market expectations for a surplus of €17.8 billion. The nation had posted a revised surplus of €15.7 billion in the prior month. Meanwhile, the region’s economic sentiment index fell to a level of -20.3 in July, following a level of -20.2 in the previous month.

Separately, in Germany, the ZEW economic sentiment index dropped to an 8-month low level of -24.5 in July, compared to a revised reading of -21.1 in the previous month. Market participants had envisaged the index to fall to a level of -22.0. Moreover, the nation’s current situation index declined to a level of -1.1 in July, more than market consensus for a drop to a level of 5.0. In the prior month, the index had recorded a level of 7.8.

The US dollar gained ground against its peers, amid upbeat US retail sales data.

In the US, data showed that advance retail sales rose 0.4% on a monthly basis in June, compared to a revised similar rise in the prior month. Markets had anticipated advance retail sales to record a gain of 0.1%. Also, the nation’s manufacturing production climbed 0.4% on a monthly basis in June, rising for the second consecutive month and higher than market expectations for a rise of 0.3%. In the prior month, manufacturing production had recorded an advance of 0.2%.

Additionally, the NAHB housing market index unexpectedly jumped to a level of 65.0 in July, defying market expectations for a steady reading. In the preceding month, the index had recorded a level of 64.0. Meanwhile, the US industrial production remained flat on a monthly basis in June, compared to an advance of 0.4% in the previous month. Market participants had anticipated the industrial production to register a rise of 0.1%.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1188 and a fall through could take it to the next support level of 1.1165; Meanwhile, the pair is expected to find its first resistance at 1.1249, and a rise through could take it to the next resistance level of 1.1287.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: UK’s public sector net borrowing jumped in June

COZFOREX: For the past trading session, the GBP declined 0.26% against the USD and closed at 1.2502 on Friday.

Data indicated that UK’s public sector net borrowing rose sharply to £7.2 billion in June, hitting its highest level since June 2015 and compared to a revised level of £4.5 billion.

In the Asian session (at GMT0300), the pair is trading at 1.2502, with the GBP trading flat against the USD from Friday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: GBP/USD is expected to find support at 1.2467 and a fall through could take it to the next support level of 1.2432; Meanwhile, the pair is expected to find its first resistance at 1.2546, and a rise through could take it to the next resistance level of 1.2590.

In absence of key economic releases in UK today, investor sentiment would be determined by global macroeconomic events.

The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Switzerland’s KOF economic barometer surprisingly advanced in July

COZFOREX: For the past trading session, the USD declined 0.17% against the CHF and closed at 0.9900.

In economic news, Switzerland’s KOF economic barometer unexpectedly rose to a level of 97.1 in July, defying market consensus for a fall to a level of 93.0. The KOF economic barometer had recorded a revised reading of 93.8 in the prior month.

In the Asian session (at GMT0300), the pair is trading at 0.9904, with the USD trading marginally higher against the CHF from yesterday’s close.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CHF is expected to find support at 0.9889 and a fall through could take it to the next support level of 0.9874; Meanwhile, the pair is expected to find its first resistance at 0.9920, and a rise through could take it to the next resistance level of 0.9937.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Australia’s AIG performance of services index contracted in July

COZforex: For the past trading session, the AUD declined 0.09% against the USD and closed at 0.6797 on Friday.

In commodities, LME Copper prices declined 1.8% or $107.0/MT to $5769.0/MT; Meanwhile, Aluminium prices declined 0.5% or $8.0/MT to $1749.0/MT.

In the Asian session (at GMT0300), the pair is trading at 0.6778, with the AUD trading 0.28% lower against the USD from Friday’s close.

Overnight data indicated that Australia’s AIG performance of services index declined to a level of 43.9 in July, compared to a level of 52.2 in the previous month.

Elsewhere in China, Australia’s largest trading partner, the Caixin/Markit services PMI unexpectedly fell to a level of 51.6 in July, compared to market expectations for a steady reading. In the previous month, the PMI had recorded a level of 52.0
In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.6744 and a fall through could take it to the next support level of 0.6711; Meanwhile, the pair is expected to find its first resistance at 0.6815, and a rise through could take it to the next resistance level of 0.6852.

Going ahead, traders would keep an eye on the Reserve Bank of Australia’s interest rate decision followed by Australia’s trade balance data for June, set to release overnight.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Canada’s new housing price index declined more-than-expected in June

COZFOREX: For the past trading session, the USD declined 0.56% against the CAD and closed at 1.3231.

Data showed that Canada’s new housing price index fell 0.2% on an annual basis in June, compared to a flat reading in the prior month. Market participants had envisaged for the index to register a drop of 0.1%.

In the Asian session (at GMT0300), the pair is trading at 1.3216, with the USD trading 0.11% lower against the CAD from yesterday’s close.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/CAD is expected to find support at 1.3183 and a fall through could take it to the next support level of 1.3151; Meanwhile, the pair is expected to find its first resistance at 1.3280, and a rise through could take it to the next resistance level of 1.3344.

Trading trend in the Loonie today, is expected to be determined by Canada’s housing starts and unemployment rate for July along with building permits for June, set to release later in the day.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Loonie trading a tad lower in the morning session

COZFOREX: For the past trading session, the USD declined 0.12% against the CAD and closed at 1.3222.

In the Asian session (at GMT0300), the pair is trading at 1.3223, with the USD trading marginally higher against the CAD from yesterday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CAD is expected to find support at 1.3174 and a fall through could take it to the next support level of 1.3126; Meanwhile, the pair is expected to find its first resistance at 1.3283, and a rise through could take it to the next resistance level of 1.3342.

Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: White metal trading on a stronger footing this morning

COZFOREX: For the past trading session, Silver declined 1.03% against the USD and closed at USD16.86 per ounce, tracking losses in gold prices.

In the Asian session (at GMT0300), the pair is trading at 16.88, with silver trading 0.12% higher against the USD from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: Silver is expected to find support at 16.77 and a fall through could take it to the next support level of 16.67; Meanwhile, Silver is expected to find its first resistance at 17.02, and a rise through could take it to the next resistance level of 17.17.

The white metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Yellow metal extends its losses in the Asian session, ahead of Fed’s Jackson Hole meeting

COZforex: For the past trading session, Gold declined 0.26% against the USD and closed at USD1508.10 per ounce, ahead of the Jackson Hole summit on future US interest rate cuts.

In the Asian session (at GMT0300), the pair is trading at 1504.9, with gold trading 0.21% lower against the USD from yesterday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: Gold is expected to find support at 1499.87 and a fall through could take it to the next support level of 1494.83; Meanwhile, gold is expected to find its first resistance at 1512.17, and a rise through could take it to the next resistance level of 1519.43.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Euro-zone’s M3 money supply rose more-than-anticipated in August

COZFOREX: For the past trading session, the EUR declined 0.07% against the USD and closed at 1.1084.

On the macro front, Euro-zone’s M3 money supply advanced 5.2% on a yearly basis in August, compared to a gain of 4.5% in the prior month. Market participants had envisaged M3 money supply to record a rise of 4.7%.

Separately, in Germany, the GFK consumer confidence index remained unchanged at 9.7 in September, defying market consensus for a fall to a level of 9.6.

In the US, data showed that the MBA mortgage applications declined 6.2% on a weekly basis in the week ended 23 August 2019, following a drop of 0.9% in the prior month.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1071 and a fall through could take it to the next support level of 1.1059; Meanwhile, the pair is expected to find its first resistance at 1.1096, and a rise through could take it to the next resistance level of 1.1109.

Moving ahead, traders would closely monitor Euro-zone’s economic confidence, industrial confidence, business climate indicator and consumer confidence, all for August along with Germany’s consumer price index for August, set to release in a few hours. Later in the day, the US annualised gross domestic product for the second quarter 2019, advance goods trade balance and pending home sales, both for July followed by the initial jobless claims, will garner significant amount of investors’ attention.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: UK’s services sector activity eased in August

COZFOREX: For the past trading session, the GBP rose 1.34% against the USD and closed at 1.2250.

On the macro front, UK’s services PMI fell to a level of 50.6 in August, compared to a reading of 51.4 in the prior month. Market participants had anticipated the PMI to fall to a level of 51.0.

In the Asian session (at GMT0300, the pair is trading at 1.2243, with the GBP trading 0.06% lower against the USD from yesterday’s close.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: GBP/USD is expected to find support at 1.2139 and a fall through could take it to the next support level of 1.2035; Meanwhile, the pair is expected to find its first resistance at 1.2303, and a rise through could take it to the next resistance level of 1.2363.

Amid lack of economic releases in UK today, traders would focus on global macroeconomic events for further direction.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Australia’s Westpac consumer confidence index eased in September

COZFOREX: For the past trading session, the AUD declined 0.07% against the USD and closed at 0.6861.

In commodities, LME Copper prices declined 0.6% or $33.0/MT to $5738.0/MT; Meanwhile, Aluminium prices rose 0.4% or $7.0/MT to $1776.0/MT.

In the Asian session (at GMT0300), the pair is trading at 0.6857, with the AUD trading 0.06% lower against the USD from yesterday’s close.

Overnight data showed that Australia’s Westpac consumer confidence index fell 1.7% on monthly basis to a level of 98.2 in September. The index had registered a level of 100.0 in the prior month.

In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.6847 and a fall through could take it to the next support level of 0.6838; Meanwhile, the pair is expected to find its first resistance at 0.6868, and a rise through could take it to the next resistance level of 0.6880.

Moving forward, traders would await Australia’s consumer inflation expectations for September, scheduled to release overnight.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZFX: Japanese Yen extends its gains in the Asian session

COZFOREX: For the past trading session, the USD declined 0.34% against the JPY and closed at 108.03.

In the Asian session (at GMT0300), the pair is trading at 107.92, with the USD trading 0.10% lower against the JPY from yesterday’s close.

Overnight data showed that in Japan, the national consumer price index (CPI) rose 0.3% on a yearly basis in August. In the prior month, the national CPI had advanced 0.5%.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/JPY is expected to find support at 107.74 and a fall through could take it to the next support level of 107.55; Meanwhile, the pair is expected to find its first resistance at 108.16, and a rise through could take it to the next resistance level of 108.39.

In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.


(COZ forex UK)

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