Forex News

Looking for the Technical perspective for the day

EUR/USD remains sidelines around 1.2215 during the initial hours of Wednesday’s Asian session. The Eurozone CPI flash estimate data released yesterday indicated an increase in Annual inflation. Also, the Eurozone Unemployment Rate data released has indicated a slight decrease in the jobless rate. The next support zone will be at 1.21500 and the next resistance zone is at 1.23200, look for buying opportunities for the pair.GBP/USD

If we see the pair, it recently broke the level of 1.42. While market optimism towards the UK economic outlook continues to provide support, COVID-19 news updates will influence. News of new strains of the coronavirus weighed on the Pound early in the week. We can see the next support zone at 1.40000 and the next resistance zone at 1.43500, although we can look for short-term selling opportunities for the pair, overall the pair will be trending upwards.


AUD/USD is the major pair to focus on today. During the monetary policy meeting yesterday, the Reserve Bank of Australia (RBA) kept interest rates at 0.10% while maintaining quantitative easing (QE) at its current settings. Currently, AUD/USD is following towards the resistance zone of 0.78000 next the next support zone is at 0.75500. Look for selling opportunities of AUD/USD if it bounces off the resistance zone of 0.78000. Therefore, the pair is in the big picture for now.


GOLD remains subdued at around 1.900 today, the metal dropped the most in three weeks. Moving on, a light calendar and cautious sentiment ahead of Friday’s key US Nonfarm Payrolls can keep the metal chained but the Fedspeak may boost up short-term traders, the price rallied to score a fresh daily high following a retest of the support structure.