EUR/USD: The euro slightly edged down after gaining for two consecutive sessions, ahead of the release of the ECB monetary policy meeting minutes later in the day. Moreover, renewed buying seen in the greenback versus its major peers following the release of a solid U.S. ISM services PMI and ADP jobs data, weakened the bid tone around the major. The European currency traded down at 1.1756, having touched a low of 1.1696 on Tuesday, its lowest since Aug. 17. Investors’ attention will remain on the release of ECB’s Sept policy meeting minutes, ahead of the U.S. unemployment benefits claims, trade balance, factory orders and the speeches by FOMC members Powell and Harker. Immediate resistance is located at 1.1815 (61.8% retracement of 1.2005 and 1.1696), a break above targets 1.1885 (21-DMA). On the downside, support is seen at 1.1730 (Oct. 2 Low), a break below could drag it near 1.1696 (Oct. 3 Low).
USD/JPY: The dollar steadied after tumbling in the previous session, as investors reacted positively to a solid US ISM services PMI and ADP jobs data. The major was trading flat at 112.75, having hit a high of 113.25 last week, its highest since mid-Jul. Investors’ will continue to track broad-based market sentiment, ahead of U.S. unemployment benefits claims, trade balance, factory orders and the speeches by FOMC members Powell and Harker for further momentum. Immediate resistance is located at 113.00, a break above targets 113.40. On the downside, support is seen at 112.43 (10- DMA), a break below could take it near 112.00.
GBP/USD: Sterling consolidated within narrow ranges ahead of Bank of Englands Andy Haldane speech due later in the day. The BoE policymaker is expected to reiterate that a rate hike would be seen soon in the coming months. The major traded flat at 1.3245, having hit a low of 1.3222 on Tuesday, its lowest since Sept. 14. Investors’ focus will remain on MPC member Haldanes speech, ahead of U.S. fundamental drivers. Immediate resistance is located at 1.3317 (5-DMA), a break above could take it near 1.3396 (5-DMA). On the downside, support is seen at 1.3222 (Oct. 3 Low), a break below targets 1.3183. Against the euro, the pound was trading flat at 88.78 pence, having hit a low of 88.84 pence earlier in the day, its lowest since Sept. 19.
AUD/USD: The Australian dollar slumped, reversing most of its previous session gains, following the release of worse-than-expected Australian retail sales data. The economys retail sales posted their biggest fall in about four-and-a-half years, slumping 0.6 percent in August. The Aussie trades 0.4 percent down 0.7832, having hit a low of 0.7785 on Tuesday, it’s lowest since Jul. 14. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7785 (Oct. 3 Low), a break below targets 0.7750. On the upside, resistance is located at 0.7875 (10-DMA), a break above could take it near 0.7947 (21-DMA).
NZD/USD: The New Zealand dollar edged down to a more than one-month low on the back of rising U.S. dollar and domestic election-related uncertainties. The Kiwi trades 0.1 percent down at 0.7160, having touched a low of 0.7146 earlier in the session, its lowest level since Sept. 4. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.7191 (5-DMA), a break above could take it near 0.7277 (Sept. 26 High). On the downside, support is seen at 0.7146 (Session Low), a break below could drag it till 0.7130.