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Technical Overview of AUD/USD Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.6963.
The Reserve Bank of Australia (RBA), as was widely expected, decided to cut interest rates for the second month in a row to a historic low level of 1.0% at its July monetary policy meeting held this Tuesday.
The decision was on expected lines and hence, did little to prompt any fresh selling around the Australian Dollar, with the AUD/USD pair holding steady above mid-0.6900s.

According to the Analysis, pair is expected to find support at 0.69344 and a fall through could take it to the next support level of 0.69057. The pair is expected to find its first resistance at 0.70132, and a rise through could take it to the next resistance level of 0.70633.

Major Economic Events of the Day
Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013.

Philip Lowe replaced Glenn Stevens as governor of Australia’s central bank. Lowe was the Deputy Governor of the Reserve Bank of Australia, a position he held since February 2012.

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Technical Overview of GBP/USD and EUR/JPY Currency Pair

GBP USD

GBP traded higher against USD and closed at 1.2527.
GBP/USD - Charts Suggest the 2019 Low Is Vulnerable.
D1 and H4 200 EMA Heads to south.
Broke D1 Ib towards the down side.
Broke the Quarter Support and Month Support.
Series of Lower Lows and Lower Highs.

According to the Analysis, pair is expected to find support at 1.24759 and a fall through could take it to the next support level of 1.24252. The pair is expected to find its first resistance at 1.25822, and a rise through could take it to the next resistance level of 1.26378.

EUR JPY

EUR traded lower against JPY and closed at 121.779.
EUR/JPY: Scope for Retesting 120.82.
D1 and H4 200 EMA Heads to south.
Broke D1 Ib towards the down side.
It's in range but projects towards the down side.

According to the Analysis, pair is expected to find support at 121.596 and a fall through could take it to the next support level of 121.414. The pair is expected to find its first resistance at 121.943, and a rise through could take it to the next resistance level of 122.108.

Major Economic Events of the Day

Bank of Japan Governor Haruhiko Kuroda will hold a press conference about monetary policies in Tokyo. Mr Kuroda exercises general control over the Bank's business. He is in charge of the Internal Auditors' Office.

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Technical Overview of EUR/USD and AUD/USD and GBP/NZD Currency Pair

EUR USD

EUR traded higher against USD and closed at 1.1208.
EUR is expected to trade sideways, likely within a 1.1190/1.1230 range.
According to the Analysis, pair is expected to find support at 1.11943 and a fall through could take it to the next support level of 1.11810. The pair is expected to find its first resistance at 1.12198, and a rise through could take it to the next resistance level of 1.12320.

AUD USD
AUD traded lower against USD and closed at 0.6926.
AUD/USD - Edges Lower After Weak Consumer Confidence
Bears Seem Confident Ahead Of Fed

According to the Analysis, pair is expected to find support at 0.69059 and a fall through could take it to the next support level of 0.68858. The pair is expected to find its first resistance at 0.69604, and a rise through could take it to the next resistance level of 0.69948.

GBP NZD
GBP traded lower against NZD and closed at 1.8856.
Overnight NZD was struck by a massive selling order. It was almost 34 pips in Asian session.
UK Manufacturing Production today
We can see that the expected 2.1 is way lot better than previous –3.9
if we have a positive tone from GBP then the Technical and fundamental bounce from the lows will be supported.

According to the Analysis, pair is expected to find support at 1.88115 and a fall through could take it to the next support level of 1.87673. The pair is expected to find its first resistance at 1.88989, and a rise through could take it to the next resistance level of 1.89421.

Major Economic Events of the Day
CAD: BOC Tone On Wed Likely A Bit More Optimistic Than Markets Assuming – CIBC
“While not a stunner for markets, the tone will tend to be a bit more optimistic than what markets are now assuming.”

The Consumer Price Index is released by the National Bureau of Statistics of China. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.
Federal Reserve Chair Jerome Powell testifies before Congress, providing a broad overview of the economy and monetary policy. Powell's prepared remarks are published ahead of the appearance on Capitol Hill.

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Technical Overview of USD/CAD and USD/JPY Currency Pair

USD CAD
USD traded lower against CAD and closed at 1.3069.
Trades near the yearly-low (1.3037) even though the Bank of Canada (BoC) endorses a wait-and-see approach for monetary policy, and recent price action keeps the downside targets on the radar as the exchange rate fails to break out of the monthly opening range.

According to the Analysis, pair is expected to find support at 1.30436 and a fall through could take it to the next support level of 1.30179. The pair is expected to find its first resistance at 1.30931, and a rise through could take it to the next resistance level of 1.31169.

USD JPY
USD traded lower against JPY and closed at 108.487.
USD/JPY to find support from yields may face resistance above 109.00.
Its approaching resistance level and fundamentally the weakness of USD may drive the pair lower.

According to the Analysis, pair is expected to find support at 108.053 and a fall through could take it to the next support level of 107.618. The pair is expected to find its first resistance at 108.726, and a rise through could take it to the next resistance level of 108.964.

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Technical Overview of AUD/USD and USD/JPY Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.7022.

Maintain a bullish data; Staying Long is more favorable as compared to short. Daily chart has a break above close above 10 EMA. Targets may be 0.73, Daily High and Weekly High has also been breached over night. Looking for a break meaningfully above resistance earlier this week at 0.7036 and remain long AUDUSD targeting 0.7300.

According to the Analysis, pair is expected to find support at 0.69868 and a fall through could take it to the next support level of 0.69515. The pair is expected to find its first resistance at 0.70409, and a rise through could take it to the next resistance level of 0.70597.

USD JPY

USD traded higher against JPY and closed at 107.885.

3 - Bearish Days for the Dollar, Expectations are the Rate cut by end of July.
Bearish sentiment leads the currency against the basket of CHF and JPY.
Selling rallies may be a positive approach in trading the safe-heaven. The basket trades below Quarterly and Yearly Pivots.

According to the Analysis, pair is expected to find support at 107.589 and a fall through could take it to the next support level of 107.292. The pair is expected to find its first resistance at 108.394, and a rise through could take it to the next resistance level of 108.902.

Major Events of the Day

NZD: Consumer Price Index (YoY) (Q2)
Consumer Price Index released by the Statistics New Zealand is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services . The purchase power of NZD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative.

CNY: Gross Domestic Product (QoQ) (Q2)
The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish).

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Technical Overview of AUD/USD and EUR/JPY Currency Pair

AUD USD

AUD traded higher against USD and closed at 0.7008.
Higher After Post-Aus Jobs Short-Covering
AUD/NZD rallied from a 4-month low at 1.0404 to 1.0435.
AUD/USD rally was short-covering as it doesn't change RBA expectations.
Resistance at 0.7045 while 10-day MA at 0.6991 is support.

According to the Analysis, pair is expected to find support at 0.69948 and a fall through could take it to the next support level of 0.69811. The pair is expected to find its first resistance at 0.70233, and a rise through could take it to the next resistance level of 0.70381.

EUR JPY

EUR traded lower against JPY and closed at 121.15.
JPY breaking its lows on daily candle as well as weekly candle.
The losers against the JPY are USD and EUR for now.
Pretty decent Harmonic patterns found on H4 charts that are in confluence with the Fundamental expects.

According to the Analysis, pair is expected to find support at 121.038 and a fall through could take it to the next support level of 120.926. The pair is expected to find its first resistance at 121.371, and a rise through could take it to the next resistance level of 121.592.

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Technical Overview of EUR/AUD, AUD/JPY and GBP/AUD Currency Pair

EUR AUD

EUR traded higher against AUD and closed at 1.5936.

Below 200 and 50 EMA.
Making a series of Lower Highs and Lower Lows.
A Bearish/Resistance Trend line Formed.
Better option is to trade the strength of AUD and Remain short.
Alternatively
Go long if the pair breaches the Resistance Trend Line.

According to the Analysis, pair is expected to find support at 1.58949 and a fall through could take it to the next support level of 1.58541. The pair is expected to find its first resistance at 1.60044, and a rise through could take it to the next resistance level of 1.60731.

AUD JPY

AUD traded higher against JPY and closed at 75.898.
The pair is in a Weekly MBIB formation.
The pair slashed the Daily and Weekly Highs.
Making a triangle formation as well on the H4.
It’s above 50 and 200 EMA Breakout Levels Marked.
Target the breakout of 127 Extension on either side.

According to the Analysis, pair is expected to find support at 75.563 and a fall through could take it to the next support level of 75.227. The pair is expected to find its first resistance at 76.109, and a rise through could take it to the next resistance level of 76.319.

GBP AUD

GBP traded higher against AUD and closed at 1.773.
Perfect Example of Currency Strength Analysis.
Strength of AUD leads the pair to South.
The recent bearish News on the Pound supports the movement.
It has already breached through Weekly Lows and is below 200 and 50 EMA.
For now it's in a Daily Chart Mother bar inside Bar.
A break below will be trend continuation.

According to the Analysis, pair is expected to find support at 1.76797 and a fall through could take it to the next support level of 1.76296. The pair is expected to find its first resistance at 1.77716, and a rise through could take it to the next resistance level of 1.78134.
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Technical Overview of EUR/USD, AUD/NZD and EUR/JPY Currency Pair

EUR USD

EUR traded higher against USD and closed at 1.1220.

Below 200 and 50 EMA with the trend towards the down side.
Making a series of Lower Highs and Lower Lows.
Stalling in the Weekly Inside bar Pattern.
Break on either side may lead the trend.
The most important factor is the Fed rate cut.

According to the Analysis, pair is expected to find support at 1.1214 and a fall through could take it to the next support level of 1.1207. The pair is expected to find its first resistance at 1.1226, and a rise through could take it to the next resistance level of 1.1231.

AUD NZD

AUD traded lower against NZD and closed at 1.0401.

Below 200 and 50 EMA with the trend towards the down side.
Making a series of Lower Highs and Lower Lows.
Broke the Weekly inside Bar Pattern to the down side.
Broke the low of Monthly candle,
Any Selling opportunity may be good option.

According to the Analysis, pair is expected to find support at 1.0383 and a fall through could take it to the next support level of 1.0376. The pair is expected to find its first resistance at 1.0396, and a rise through could take it to the next resistance level of 1.0402.

EUR JPY

EUR traded lower against JPY and closed at 120.77.

Bears in control as they broke the Weekly In sidebar and are to target the bearish ABCD Pattern, heading towards minimum 127 extension.

ECB steers the market towards more easing later in the year.
Quantitative Easing and Further rate cut by 10 Basis Points will weaken the EURO.
This rate cut may occur in September.
Until then EURO may remain sideways.

According to the Analysis, pair is expected to find support at 120.94 and a fall through could take it to the next support level of 120.86. The pair is expected to find its first resistance at 121.10, and a rise through could take it to the next resistance level of 121.20.

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Technical Overview of EUR/USD and GBP/CHF Currency Pair

EUR USD

EUR traded lower against USD and closed at 1.1208.

EUR/USD - Bears get clear signals ahead of ECB Meet.
We have break below close below of Daily Ib and Weekly Ib.
Bollinger bands facing towards south.
EUR/USD near-term downside limited to channel base 1.1158
Quiet Trading Expected Ahead Of Key Event Risks
ECB meeting Thursday and FOMC next week likely be catalysts for breakout.

According to the Analysis, pair is expected to find support at 1.12013 and a fall through could take it to the next support level of 1.11941. The pair is expected to find its first resistance at 1.12204, and a rise through could take it to the next resistance level of 1.12323.

GBP CHF

GBP traded higher against CHF and closed at 1.225.

The GBP/CHF continued to trade downwards, targeting the lower area located @1.2000.
Given that the currency pair is pressured by the 55-, 100– and 200-hour moving averages and has breached low of Monthly candle currently located in the 1.2285/1.2325 range, it is expected, that the British Pound could continue to depreciate against the Swiss Franc.

According to the Analysis, pair is expected to find support at 1.22173 and a fall through could take it to the next support level of 1.21845. The pair is expected to find its first resistance at 1.22931, and a rise through could take it to the next resistance level of 1.23361.

Fundamentals of the Day

1) Dollar rises as fears of a 50 point interest-rate cut fade
The U.S. dollar rose in afternoon trade on Friday as fears of a larger-than-expected 50-basis-point interest rate cut in July abated after the New York Federal Reserve walked back dovish comments from its president the prior day.

2) ECB Bank Lending Survey
The bank lending survey (BLS) for the euro area was launched in 2003. Its main objective is to enhance the Eurosystem’s knowledge of financing conditions in the euro area. The BLS provides input to the ECB Governing Council’s assessment of monetary and economic developments, on which it bases its monetary policy decisions.

3) FPC Meeting Minutes
Bank of England Financial Policy Committee Minutes is a detailed record of the FPC's most recent meeting. The report, which is released quarterly, provides in-depth insights into the financial conditions and decisions towards financial stability.

4) Tory Leadership Contest Result Announcement
The UK Conservative Party is set to announce the results of the vote for its new leadership. UK tories have been voting for weeks and the race has been trimmed to two candidates: Boris Johnson and Jeremy Hunt. The winner of the contest will become the new British Prime Minister, succeeding Theresa May at the Number 10 Downing Street office.

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Technical Overview of EUR/USD, AUD/USD and NZD/USD Currency Pair

EUR USD

EUR traded higher against USD and closed at 1.1107.

The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) today shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD.

According to the Analysis, pair is expected to find support at 1.1121 and a fall through could take it to the next support level of 1.1117. The pair is expected to find its first resistance at 1.1130 and a rise through could take it to the next resistance level of 1.1135.

AUD USD

AUD traded lower against USD and closed at 0.6799.

AUD/USD down 0.5% in sympathy with a weakening Yuan as China fights back.
USD/CNY blasts through pivotal 7.00 as US-China trade tensions escalate.
Leads to risk aversion in Asia as risk/EM assets sold across board.
Havens JPY, XAU +0.5%, US-10 year yield hits 1.7890, lowest since Nov 9, 2016.
Risk barometer AUD/JPY -1% to a new 2019 low; RBA to sound more dovish Tues?

According to the Analysis, pair is expected to find support at 0.6776 and a fall through could take it to the next support level of 0.6768. The pair is expected to find its first resistance at 0.6789, and a rise through could take it to the next resistance level of 0.6794.

NZD USD

NZD traded lower against USD and closed at 0.6540

A number of downward slopping trend lines indicate weakness of NZD/USD.
10-week old support-line grabs bears’ attention.
In addition to a two-day long descending trend-line, the NZD/USD pair’s sustained trading below a resistance-line stretched since late-July also portrays its weakness as the quote seesaws near 0.6510 during early Monday.

The Employment Change released by the Statistics New Zealand is a measure of the change in the number of employed people in New Zealand. Generally speaking, today a rise in this indicator has positive implications for consumer spending which stimulates economic growth. A high reading is seen as positive (or bullish) for the NZ dollar, while a low reading is seen as negative (or bearish).

According to the Analysis, pair is expected to find support at 0.6521 and a fall through could take it to the next support level of 0.6513. The pair is expected to find its first resistance at 0.6533, and a rise through could take it to the next resistance level of 0.6537.