Technical Overview of AUD/USD, EUR/USD and USD/CAD Currency Pairs
AUD USD
The AUD traded lower against the USD and closed at 0.7083.
Reserve Bank of Australia (RBA) Governor Speech may contain information about the expected change in the bank's interest rates or in the monetary policy.
Australia Gross Domestic Product (GDP) q/q provides a monetary gauge of all goods and services produced in Australia (less the value of goods and services used in production) in the reported quarter compared to the previous one.
The GDP calculation formula includes consumer and government spending, amount of all investments and total net export of the country.
GDP growth can have a positive effect on AUD quotes.
According to the Analysis, The pair is expected to find support at 0.70623, and a fall through could take it to the next support level of 0.70418. The pair is expected to find its first resistance at 0.70996, and a rise through could take it to the next resistance level of 0.71164.
Previous Day range was 37.3 and Current Day Range is 63.2.
EUR USD
The EUR traded higher against the USD and closed at 1.1307.
ADP Nonfarm Employment Change shows the monthly change in 19 manufacturing sectors in the United States. The indicator does not take agriculture into account. The calculation includes data collected from about 400 000 private enterprises.
The indicator characterizes the labor market and industrial sector activity. Employment growth can have a positive effect on dollar quotes.
The pair is expected to find support at 1.12849, and a fall through could take it to the next support level of 1.12624. The pair is expected to find its first resistance at 1.13347, and a rise through could take it to the next resistance level of 1.13620.
EUR USD previous Day range was 49.8 and Current Day Range is 17.5.
USD CAD
The USD traded little higher against CAD and closed at 1.3349.
Canada Ivey Purchasing Managers Index (PMI) shows economic activity in the past month calculated by the Ivey School of Business.
The indicator is calculated based on a survey of purchasing managers in the private and public sector companies. The survey involves representatives of 175 companies selected in view of their field of activity and geographical location. Respondents answer questions about whether purchases, employment, supplies and prices in their sector have become better, worse or has not changed over the reported month.
Survey results are seasonally adjusted.
A reading above 50 indicates that the economic activity is expanding, a reading below 50 suggests the economy is in contraction. The index growth can have a positive effect on CAD quotes.
Bank of Canada announces its decisions on interest rate eight times a year. It is one of the key events influencing the Canadian dollar quotes. The decision is made depending on the current economic conditions and financial outlook in the country.
Changes in the interest lead to a short-term volatility of the Canadian dollar. An increase in the interest rate is seen as positive for the national currency.
According to the analysis, pair is expected to find support at 1.33134, and a fall through could take it to the next support level of 1.32778. The pair is expected to find its first resistance at 1.33723, and a rise through could take it to the next resistance level of 1.33956.
USD CAD previous day range was 58.9 and current day range is 25.