The Central Bank of Turkey raised the repo rate for one week to 17.75%, up from 16.5% previously, as a result, Turkish Lira strengthens 2.00% overnight. The dollar index (KTM:USDX) at 93.40, US 10Y at 2.93% remain below 3.0%.
Today once again it will be quiet regarding Tier-1 data releases, and that will leave investors’ focus on Canada’s jobs data.
AUDUSD: Failing at 100EA, consolidating between (0.7595-0.7675)
AUDNZD: Traced out a double top and rejected at 200MA
EURUSD: Manages to close above 20MA again
EURGBP: Rejected at 200MA
GBPUSD: Manages to close above 20MA again
USDJPY: Stiff resistance @200MA
USDCHF: Closed below 50MA. Scope to test the support zone 0.9770-0.9730
USDTRY: Hovering above the parallel support at 4.4470
USDZAR: Closed above 200MA finally whereas 13.20$ will be the lid
NZDUSD: Paused at 38.2% fib reaction (0.7395-0.6850)
Bitcoin: Unable to breach the early June high
Brent: Rebound 50.0% of the recent fall but a tad below 20MA at 77.50$
Copper: Fail to close above Dec 2017 high
Gold: Locked between 1308$-1289$
Silver: Rejected at 200MA. Bullish breakout looms >17.00$
Chart of the day: EURCAD
The cross was rejected at 1.5360 the parallel resistance above this, we see levels between the 1.5460-1.5510 as likely to meet resistance, and we target a move towards 1.5150 in the first instance. Noting that 50MA exists at 1.5380.
It is important to always keep in mind the risks involved in trading with leveraged instruments.
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