RBA Monetary Policy Minutes: Wednesday, 0:30. The RBA minutes will provide details of the policy meeting from earlier this month. At the meeting, policymakers maintained rates at 0.75%, but the bank is under pressure to lower rates, as the Australian economy is feeling the chills from coronavirus.
UK Inflation: Wednesday, 9:30. The weak British economy has been unable to generate much in the way of inflation. CPI slipped to 1.3% in December, shy of the estimate of 1.5%. This was the lowest monthly level since November 2016. Analysts expect CPI to climb to 1.7% in January. Core CPI, which excludes the most volatile items which make up CPI, slipped to 1.4% in December, shy of the estimate of 1.7%. The forecast for January stands at 1.5%.
Canadian CPI: Wednesday, 13:30. Inflation remains muted, as the headline reading has managed only one gain in the past five releases. The forecast for January stands at 0.3%, compared to 0.0% in December.
AUD
RBA Monetary Policy Minutes
GBP
UK Inflation
CAD
Canadian CPI
- EURUSD
The chart above shows that the pair is traded below a strong resistance level that is1.0850. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0750
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1150 ▪ 1.1100 ▪ 1.0850 |
▪ 1.0800 ▪ 1.0750 ▪ 1.0720 |
We are bearish as long as the pair is traded below the level of 1.0850 |
- GBPUSD
As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.3000. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.2890
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3400 ▪ 1.3350 ▪ 1.3000 |
▪ 1.2900 ▪ 1.3000 ▪ 1.2850 |
We are bearish as long as the pair is traded below the level of 1.3000. |
- GOLD
As could be seen on the chart above that the pair is traded above a strong support level that is 1595. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1615.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1620 ▪ 1615 |
▪ 1595 ▪ 1565 ▪ 1555 |
We are bullish as long as the pair is traded above the level of 1595 |
- AUDUSD
As could be seen on the chart above shows that the pair is traded above a strong support level that is 0.6660. Therefore, we are bullish as long as the pair is traded above it. Our first target is 0.6740. On the other hand, if the level of 0.6660 is broken, the pair might continue going downwards that is might reach the level of 0.6625
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7123 ▪ 0.6988 ▪ 0.6740 |
▪ 0.6660 ▪ 0.6630 ▪ 0.6600 |
We are bullish as long as the pair is traded above 0.6660. |
- GBPJPY
The chart above shows that the pair is traded below a strong resistance level that is 144.17. Therefore, we are bearish as long as the pair is traded below it. Our first target is 142.30 followed by 141.50. On the other hand, if the level of 144.17 is broken to the upside by at least a daily close, then the way would be open for the pair to reach 145
| Resistance levels: | Support levels: | Recommended: |
| ▪ 146.50 ▪ 146.00 ▪ 144.20 |
▪ 141 ▪ 140.50 ▪ 140.00 |
We are bearish as long as the pair is traded below 144.17 |
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