traded in a tight range between 1.1235/1.1240 (zone including the 50, 100 and 200-hour moving averages) and 1.1248 (major 38.2% retracement on Aug 31st to Sep 8th rise) in Asia. The fading Federal Reserve (Fed) rate hike expectations should encourage a push toward 1.1279 (minor 23.6%) 1.1312 (ascending channel top). Clearing the 1.1240/1.1235 support, the pair should challenge the 1.1200 (50% retracement) before 1.1171 (minor 76.4%).
remains rangebound, with a slightly negative bias on softer Fed expectations. Intra-day resistances are eyed at 102.25 (100 and 200-hour moving averages), 102.75 (50% retracement on Sep 2nd to Sep 7th pullback), 103.12 (major 61.8%), 103.57 (minor 76.4% and ascending channel top). Intra-day supports are presumed at 101.93 (minor 23.6%), 101.42 (Sep 13th low) and 102.20 (Sep 7th low).
held ground at 1.3179 despite the Bank of England’s (BoE) dovish stance at yesterday’s MPC meeting. Cable will step in the short-term bullish consolidation zone above 1.3255 (major 38.2% retracement on Sep 6th –- Sep 14th decline). There is room for a mid-term extension of 1.3642 (major 38.2% retracement on post-Brexit sell-off) below which the mid-term trend remains bearish. Intra-day supports are seen at 1.3210 (minor 23.6% retrace on Sep 6th –- Sep 14th decline) and 1.3138 (Sep 14th double bottom). AUDUSD
recovers on the back of a softer US dollar. The key short-term resistance is eyed at 0.7554 (major 38.2% retracement on Sep 8th to Sep 13th decline), if surpassed, should push the AUDUSD in the short-term bullish trend for a further attempt to 0.7622 (major 61.8% retrace). The critical support is seen at 0.7440/0.7420. Gold
shortly traded below the $1310 in New York, before the soft US data hit the Fed hawks and gave a positive spin to the precious metal. The $1305 / 1297 zone (100-day moving average / minor 23.6% retracement on Dec’15 – Jul’16 rise) is seen as a solid mid-term support, while the upside is expected to remain capped at $ 1334 (50-day moving average) and $1350, two-week downtrend channel top.
extended losses to $43.25. A minor support is seen at $43.00 and any upside attempt is likely to see resistance at $44.10 (minor 74.6% on Sep 1st to Sep 8th recovery), $44.80 (major 61.8%), Offers are presumed at $45.23 (200-hour moving average), $45.35 (major 50% retracement on Sep 1st to Sep 8th recovery).