Technical Overview of USD/CAD, AUD/USD and USD/JPY Currency Pairs

USDCAD

USD CAD

The USD traded lower against the CAD and closed at 1.3394.

NAHB Housing Market Index is released by the National Association of Home Builders. It presents home sales and expected home buildings in the future indicating housing market trend in the United States. The growth rate of the housing market affects the USD volatility. Normally, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative(or bearish).

According to the Analysis, The pair is expected to find support at 1.33594, and a fall through could take it to the next support level of 1.33248. The pair is expected to find its first resistance at 1.34141, and a rise through could take it to the next resistance level of 1.34353. Previous Day range was 55 and Current Day Range is 15.2.

AUD USD

AUD USD

The AUD traded lower against the USD and closed at 0.7173.

The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion,including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.

The pair is expected to find support at 0.72395, and a fall through could take it to the next support level of 0.71063. The pair is expected to find its first resistance at 0.72167,and a rise through could take it to the next resistance level of 0.72604.

AUD/USD previous Day range was 76.8 and Current Day Range is 13.

USDJPY

USD JPY

The USD traded higher against JPY and closed at 113.397.

The Adjusted Merchandise Trade Balance is released by the Ministry of Finance and it’s a seasonal measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependent on exports. A high reading is positive for the JPY, while a low reading is seen as negative (or bearish).

According to the analysis,USD/JPY pair is expected to find support at 113.182, and a fall through could take it to the next support level of 112.969. The pair is expected to find its first resistance at 113.635, and a rise through could take it to the next resistance level of 113.881.

USD/JPY previous day range was 4550 and current day range is 1870.