USD Overview (12 August 2021)
Yesterday, USD weakened against all major currencies.
The CPI m/m data released yesterday indicated a slowdown in inflation in July. As a result, USD weakened across the board.
- CPI m/m (Actual: 0.5%, Forecast: 0.5%, Previous: 0.9%)
- Core CPI m/m (Actual: 0.3%, Forecast: 0.4%, Previous: 0.9%)
NZD/USD Outlook (12 August 2021)
Overall, NZD/USD is ranging across. Recently, NZD/USD strengthened and broke above the key level of 0.70 after the release of the U.S. CPI data that signifies a slowdown in inflation.
The New Zealand Inflation Expectations q/q data (Forecast: NA, Previous: 2.05%) will be released later at 1100 (GMT+8).
NZD/USDs next support zone is at 0.69500 and the next resistance zone is at 0.71000.
Look for short-term buying opportunities of NZD/USD.
AUD/USD Outlook (12 August 2021)
Overall, AUD/USD is trending downwards. Recently, AUD/USD bounced off the support zone of 0.73300 after the release of the U.S. CPI data that signifies a slowdown in inflation.
AUD/USDs next support zone is at 0.73300 and the next resistance zone is at 0.75000.
Look for short-term buying opportunities of AUD/USD.
USD/JPY Outlook (12 August 2021)
Overall, USD/JPY is ranging across. Recently, USD/JPY rejected the resistance zone of 110.800 after the release of the U.S. CPI data that signifies a slowdown in inflation.
USD/JPYs next support zone is at 108.500 and the next resistance zone is at 110.800.
Look for short-term selling opportunities of USD/JPY.
EUR/USD Outlook (12 August 2021)
Overall, EUR/USD is trending downwards. Recently, EUR/USD strengthened after the release of the U.S. CPI data that signifies a slowdown in inflation.
EUR/USDs next support zone is at 1.16300 and the next resistance zone is at 1.18200.
Look for short-term buying opportunities of EUR/USD.
GBP/USD Outlook (12 August 2021)
Overall, GBP/USD is ranging across. Recently, GBP/USD bounced off the support zone of 1.38000 after the release of the U.S. CPI data that signifies a slowdown in inflation.
The UK Preliminary GDP q/q (Forecast: 4.8%, Previous: -1.6% revised from -1.5%) will be released later at 1400 (GMT+8).
Currently, GBP/USD is moving up towards the key level of 1.39. Its next support zone is at 1.38000 and the next resistance zone is at 1.40000.
Look for short-term buying opportunities of GBP/USD if it breaks above the key level of 1.39.
USD/CAD Outlook (12 August 2021)
Overall, USD/CAD is ranging across. Recently, USD/CAD weakened after the release of the U.S. CPI data that signifies a slowdown in inflation.
Currently, USD/CAD is bouncing up from the key level of 1.25. Its next support zone is at 1.24500 and the next resistance zone is at 1.26100.
Look for short-term buying opportunities of USD/CAD.
GBP/JPY Outlook (12 August 2021)
Overall, GBP/JPY is ranging across. Recently, GBP/JPY broke above the key level of 153.
The UK Preliminary GDP q/q (Forecast: 4.8%, Previous: -1.6% revised from -1.5%) will be released later at 1400 (GMT+8).
Currently, GBP/JPY is testing to break below the key level of 153. Its next support zone is at 151.000 and the next resistance zone is at 153.800.
Look for short-term buying opportunities of GBP/JPY if it fails to break below the key level of 153.
EUR/JPY Outlook (12 August 2021)
Overall, EUR/JPY is trending downwards.
EUR/JPYs next support zone is at 128.500 and the next resistance zone is at 130.000.
Look for selling opportunities of EUR/JPY.
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