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In the Zone
- EURUSD
- AUDUSD
- NZDUSD
- USDJPY
- USDCHF
Noteworthy News
- A new era of “populism” politics seems to be sweeping the world, and yesterday we had a front seat of it at the State of the Nation. There still needs to be a level of decorum, as last night’s incidents were rather embarrassing.
Recap
Early this morning, the dollar is on the front foot again – after the strong close on record highs in US equity markets on Friday, this sort of open should have been expected as the Asian pacific played catch up. There was also some early action in the US treasury yields, after the geo political events over the weekend – this too was expected.
The USDJPY was the early mover with the pair moving to as high as 114.10 before running out of momentum. The JPY crosses were largely dragged higher as per our weekend discussion, the meeting with Abe and Trump was amicable and combined with the North Korea missile saga, the JPY is very weak this morning. We are currently trading at major resistance and the markets have a knack of absorbing this type of news relatively quickly, and so I would be looking to fade this move later this morning.
The GBPUSD is little changed, we closed last week in the middle of a large range and the market seems undecided on what route to take now. For now, the bias would be to fade any dollar moves, but as discussed over the last couple of weeks – I continue to sit this pair out as it is prone to move on any Brexit headlines.
I cover the rest of the pairs in the morning video.
Dean's Daily FX Update – 13 February 2017
Daily Ranges 13/02/2017
Majors
EURUSD
Resistance 1.0680 – 1.0700
Support 1.0625 – 1.0605
GBPUSD
Resistance 1.2560 – 1.2580
Support 1.2440 – 1.2410
AUDUSD
Resistance 0.7670 – 0.7710
Support 0.7625 – 0.7610
NZDUSD
Resistance 0.7240 – 0.7260
Support 0.7190 – 0.7160
USDCAD
Resistance 1.3140 – 1.3170
Support 1.3075 – 1.3050
USDJPY
Resistance 113.90 – 114.20
Support 113.00 – 112.80
USDCHF
Resistance 1.0040 – 1.0060
Support 1.0000 – 0.9960
Rand
USDZAR
Resistance 13.4250 – 13.4650
Support 13.3310 – 13.3050
EURZAR
Resistance 14.2700 – 14.3180
Support 14.1795 – 14.1500
GBPZAR
Resistance 16.7910 – 16.8360
Support 16.6500 – 16.6240
Minors
AUDCAD
Resistance 1.0060 – 1.0080
Support 1.0000 – 0.9980
AUDJPY
Resistance 87.40 – 87.70
Support 86.50 – 86.20
EURCHF
Resistance 1.0680 – 1.0700
Support 1.0630 – 1.0610
EURGBP
Resistance 0.8550 – 0.8570
Support 0.8490 – 0.8470
EURJPY
Resistance 121.20 – 121.40
Support 120.30 – 120.00
GBPJPY
Resistance 142.50 – 142.80
Support 140.90 – 140.60
GBPCAD
Resistance 1.6430 – 1.6460
Support 1.6310 – 1.6300
GBPCHF
Resistance 1.2550 – 1.2570
Support 1.2470 – 1.2440
Indices
DE30
Resistance 11690 – 11730
Support 11600 – 11570
UK100
Resistance 7280 – 7320
Support 7220 – 7190
US500
Resistance 2330 – 2360
Support 2280 – 2260
US30
Resistance 20300 – 20550
Support 20150 – 20110
SA40
Resistance 46000 – 46200
Support 45000 – 44800
Commodities
BRENT
Resistance 56.80 – 57.00
Support 55.50 – 55.10
XAUUSD
Resistance 1235.00 – 1250.00
Support 1215.00 – 1200.20
XAGUSD
Resistance 17.60 – 17.80
Support 17.40 – 17.20
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