USD trends under 93.00

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Daily Outlook – 15 Sep 2020

By: Stuart Cowell

USD trends lower & under 93.00 as risk slips back into markets – US equities all close over 1% higher (TSLA +12%, Nvidia +5.82%, Oracle +4.32% & APPL +3%) on deals & vaccine developments. Asian markets are also higher on better than expected data from China. GBP holds gains as Johnson wins the first vote on Bill, AUD & Yuan up on better risk sentiment, and JPY softer on Suga win an equity rally. Gold up to test $1970, USOil subdued at $37.20. Amazon plans to hire 100,000 across N. America and UBS & Credit Suisse talk possible mega-merger. TRUMP questions climate change science as environmental issues become a campaign topic (7 weeks to go) & US death from COVID holds up at 400 for a second day. UK Claims (20k) better than expected (73,700 vs 99,500) unemployment unchanged4.1%

USDIndex – trends below 93.00 – trades at 92.80 (S1) – today’s PP 93.10 r1 93.305, S2 92.60

EUR – advances over R1 to 1.1900 again – PP today 1.1860, R2 1.1917, s1 1.1835 –

JPY – down to 105.55 yesterday. Now at 105.65 – PP 105.80, S1 105.45, – R1 & 200hrMA 106.07

GBP – Tested 1.2900 (R1) yesterday – dipped to 1.2810 this morning, now 1.2875. PP 1.2840, s1 1.2775

AUD – (best performer) retakes 0.7300 (R1) and rallies from S1 0.7270 to r2 0.7325.

NZD – Holds 0.6700 and rallies to 0.6720 and R1, R2 at 0.6750, PP 0.6688

CAD – rejected 1.3200 again yesterday back to 1.3140 (S2) now – PP 1.3175, S1 & 200MA 1.3150.

CHF – At S1 0.9060 and 10-day low, – S2 0.9035, PP 0.9080

BTC – up to 10,700, – R1 10,900, PP 10,550

GOLD – rallied to test $1970 (R1), PP at $1952, S1 1940, R2 1978

USOil – Tested the floor at $36.80 (s1) again yesterday, Now $37.25 (PP), R1 37.65.

USA500 – closed +42 at 3383 –- 7th day under 20MA, 50MA support at 3335.- FUTS at 3394. PP 3375

Today – German ZEW survey, US NY Fed and Industrial Production, weekly Private Inventory Crude Stocks, IEA Monthly Oil Market Report, ECB’s Panetta

Biggest (FX) Mover @ (06:30 GMT) AUDUSD (+0.51%) – Large rally from S1 0.7270 through 20, 50, & 200 MA’s over PP, R1 and stalling at R2. Fast MA’s aligned higher, RSI 65 and rising, MACD histogram & signal line aligned higher and over 0-line from late yesterday, Stochastics move into OB zone. H1 ATR 0.0011, Daily ATR 0.0072.


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