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    Daily Forex Analysis - 11th August 2021

    Abstract:Daily currency trading guides and market forecasts: NZD/USD, AUD/USD, USD/JPY, EUR/USD, GBP/USD, USD/CAD, GBP/JPY, EUR/JPY

      

    JIN

      USD Overview (11 August 2021)

      Yesterday, USD strengthened against most major currencies except AUD, NZD and CAD.

      The CPI m/m data will be released later at 2030 (GMT+8).

      - CPI m/m (Forecast: 0.5%, Previous: 0.9%)

      - Core CPI m/m (Forecast: 0.4%, Previous: 0.9%)

      FOMC committee member Bostic will be speaking later at 2230 (GMT+8). During this time, there may be volatility in USD.

      NZD/USD Outlook (11 August 2021)

    image.png

      Overall, NZD/USD is ranging across. Recently, NZD/USD broke below the key level of 0.70.

      Currently, NZD/USD is testing to break above the key level of 0.70. Its next support zone is at 0.69500 and the next resistance zone is at 0.71000.

      Look for short-term selling opportunities of NZD/USD if it bounces down from the key level of 0.70.

      AUD/USD Outlook (11 August 2021)

    image.png

      Overall, AUD/USD is trending downwards.

      The Australian NAB Business Confidence data (Actual: -8, Forecast: NA, Previous: 11) released yesterday indicated a decline in business sentiment in July due to the outbreak of the Delta variant COVID cases.

      The Australian Westpac Consumer Sentiment data (Actual: -4.7%, Forecast: NA, Previous: 1.5%) released earlier today reflected a decline in sentiment in July due to the recent outbreak in the Delta variant of COVID.

      Currently, AUD/USD is testing the support zone of 0.73300 and the next resistance zone is at 0.75000.

      Look for short-term selling opportunities of AUD/USD if it breaks the support zone of 0.73300.

      USD/JPY Outlook (11 August 2021)

    image.png

      Overall, USD/JPY is ranging across.

      Currently, USD/JPY is moving towards the resistance zone of 110.800 and the next support zone is at 108.500.

      Look for short-term buying opportunities of USD/JPY if it breaks the resistance zone of 110.800.

      EUR/USD Outlook (11 August 2021)

    image.png

      Overall, EUR/USD is ranging across.

      The eurozone and German ZEW Economic Sentiment data released yesterday indicated a strong decline in economic sentiment due to the increasing risks for the German economy resulting from a possible fourth COVID-19 wave.

      - ZEW Economic Sentiment (Actual 42.7, Forecast: 55.3, Previous: 61.2)

      - German ZEW Economic Sentiment (Actual 40.4, Forecast: 54.9, Previous: 63.3)

      Currently, EUR/USD is moving down towards the key level of 1.17. Its next support zone is at 1.16300 and the next resistance zone is at 1.18200.

      Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.17.

      GBP/USD Outlook (11 August 2021)

    image.png

      Overall, GBP/USD is ranging across.

      Currently, GBP/USD is moving towards the support zone of 1.38000 and the next resistance zone is at 1.40000.

      Look for short-term selling opportunities of GBP/USD if it breaks the support zone of 1.38000.

      USD/CAD Outlook (11 August 2021)

    image.png

      Overall, USD/CAD is ranging across. Recently, USD/CAD bounced off the resistance zone of 1.26100.

      USD/CADs 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 (11 August 2021)

    image.png

      Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced down from the key level of 153.

      Currently, GBP/JPY is testing to break above the key level of 153. Its next support zone is at 151.000 and the next resistance zone is at 153.800.

      Look for selling opportunities of GBP/JPY if it fails to break above the key level of 153.

      EUR/JPY Outlook (11 August 2021)

    image.png

      Overall, EUR/JPY is trending downwards.

      The eurozone and German ZEW Economic Sentiment data released yesterday indicated a strong decline in economic sentiment due to the increasing risks for the German economy resulting from a possible fourth COVID-19 wave.

      - ZEW Economic Sentiment (Actual 42.7, Forecast: 55.3, Previous: 61.2)

      - German ZEW Economic Sentiment (Actual 40.4, Forecast: 54.9, Previous: 63.3)

      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.

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
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