USD Overview (25 August 2021)
Yesterday, USD weakened against most major currencies except CHF.
The New Home Sales data (Actual: 708K, Forecast: 698K, Previous: 701K revised from 676K) released yesterday indicated an increase in the number of new single-family homes being sold in July.
NZD/USD Outlook (25 August 2021)
Overall, NZD/USD is trending downwards. Recently, NZD/USD trended up into the resistance zone of 0.69500.
Yesterday, Reserve Bank of New Zealand Assistant Governor Christian Hawkesby clarified that the central banks decision on no increasing interest rates last week was due to communication challenges and not economic risks. He also said that the committee members were considering on an interest rate hike of 0.50%.
Currently, NZD/USD is testing the resistance zone of 0.69500 and the next support zone is at 0.67900.
Look for short-term buying opportunities of NZD/USD if it breaks the resistance zone of 0.69500.
AUD/USD Outlook (25 August 2021)
Overall, AUD/USD is trending downwards. Recently, AUD/USD broke the resistance zone of 0.72200.
AUD/USDs next support zone is at 0.72200 and the next resistance zone is at 0.73300.
Look for short-term buying opportunities of AUD/USD.
USD/JPY Outlook (25 August 2021)
Overall, USD/JPY is ranging across.
Currently, USD/JPY is moving towards the key level of 110. Its next support zone is at 108.800 and the next resistance zone is at 110.800.
Look for short-term buying opportunities of USD/JPY if it breaks above the key level of 110.
EUR/USD Outlook (25 August 2021)
Overall, EUR/USD is trending downwards.
The German ifo Business Climate data (Forecast: 100.2, Previous: 100.8) will be released later at 1600 (GMT+8).
Currently, EUR/USD is testing the resistance zone of 1.17600 and the next support zone is at 1.16300.
Look for short-term selling opportunities of EUR/USD if it bounces off the resistance zone of 1.17600.
GBP/USD Outlook (25 August 2021)
Overall, GBP/USD is ranging across. Recently, GBP/USD bounced up from the key level of 1.37.
GBP/USDs next support zone is at 1.36000 and the next resistance zone is at 1.38000.
Look for short-term buying opportunities of GBP/USD.
USD/CAD Outlook (25 August 2021)
Overall, USD/CAD is ranging across.
Currently, USD/CAD is testing the support zone of 1.26100 and the next resistance zone is at 1.29000.
Look for short-term selling opportunities of USD/CAD if it breaks the support zone of 1.26100.
GBP/JPY Outlook (25 August 2021)
Overall, GBP/JPY is trending downwards. Recently, GBP/JPY bounced down from the resistance zone of 151.000.
Currently, GBP/JPY is moving towards the resistance zone of 151.000 and the next support zone is at 148.900.
Look for short-term selling opportunities of GBP/JPY if it bounces off the resistance zone of 151.000.
EUR/JPY Outlook (25 August 2021)
Overall, EUR/JPY is trending downwards. Recently, EUR/JPY bounced off the support zone of 128.500.
The German ifo Business Climate data (Forecast: 100.2, Previous: 100.8) will be released later at 1600 (GMT+8).
Currently, EUR/JPY is testing to break above the key level of 129. Its next support zone is at 128.500 and the next resistance zone is at 130.000.
Look for short-term buying opportunities of EUR/JPY if it breaks above the key level of 129.
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