![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/October-2020\/12-10-2020\/AUDUSD%20H4%2010122020.PNG\")
<\/p>\nUSD lost ground against its counterparts on Friday yet during today\u2019s Asian session seems to have found some support. It seems that increased hopes for a fiscal stimulus to be agreed before the US presidential elections, which tended to push the USD lower, have now been replaced by doubts. On Friday President Trump offered an $1.8 trillion coronavirus relief package which was closer to the Democrat\u2019s proposal of $2.2 trillion, yet the proposal met criticism from both Republicans and Democrats. We expect fundamentals to continue to move the greenback in the absence of any financial releases and should market hopes for a fiscal stimulus increase again, we could see the USD weakening and vice versa.
\nAUD\/USD continued to rise on Friday, breaking the 0.7200 (S1) resistance line now turned to support as expected on Friday\u2019s report, yet during todays\u2019 Asian session seemed to be stalling. Despite the stabilisation for our bullish bias to change in favour of a sideways movement, we could require the pair\u2019s price action to break the upward trendline incepted since the 7th of October. If the bulls actually maintain control over the pair\u2019s direction, we could see it aiming if not breaking the 0.7300 (R1) resistance line. If the bears take over, the pair could break below the 0.7200 (S1) line once again and start aiming for the 0.7100 (S2) level.<\/p>\n
The CAD has been strengthening against the USD as the risk on market sentiment tended to support the Loonie over the past few days. The Loonie drew additional support from very favourable figures in the country\u2019s employment data for September as the unemployment rate dropped more than expected, while at the same time the employment change figure rose instead of falling as expected. BoC Governor Macklem warned on Thursday that coming months are \u2018crucial\u2019 to see how Canadian homes and businesses have weathered the crisis. We expect the CAD to be fundamentally driven as very few financial releases are expected and CAD traders could also be watching the oil market.
\nUSD\/CAD continued to drop breaking the 1.3150 (R1) support line, now turned to resistance. The pair seems to be under the influence of the downward trendline incepted since the 7th of October, supporting our bearish outlook yet seems to be currently testing it once again. If the pair remains under the selling interest of the market, we could see it aiming for the 1.3035 (S1) support line. On the contrary should buyers be in charge, USD\/CAD could break the downward trendline, the 1.3150 (R1) line and aim for the 1.3240 (R2) level.<\/p>\n
In the European session today, we get Turkey\u2019s current account balance for August and the Czech Republic\u2019s CPI rate for September. UK\u2019s GDP rates for August as well as the manufacturing output growth rate for the same month. During Tuesday\u2019s Asian session, please note that release of New Zealand\u2019s electronic card sales for September while the highlight of the session is expected to be China\u2019s trade data for also for September. As for speakers ECB\u2019s Schnabel, BoJ Governor Haruhiko Kuroda and ECB\u2019s De Guindos speak.<\/p>\n
On Tuesday, we get Germany\u2019s final HICP rate for September, UK\u2019s employment measures for August, Germany\u2019s ZEW indicators for October and the US inflation rates for September. On Wednesday, we get Eurozone\u2019s industrial production for August and the US PPI rate for September. On Thursday, we get Australia\u2019s employment data for September, China\u2019s inflation rates for September, France\u2019s final HICP rate for September and from the US the NY Fed Manufacturing for October, the Philly Fed Business index for October and the weekly initial jobless claims figure. On Friday, we get Eurozone\u2019s final HICP rates for September and from the US the retail sales and industrial production growth rates for September as well as the University of Michigan consumer sentiment for October.<\/p>\n
<\/p>\n
Support: 0.7200 (S1), 0.7100 (S2), 0.7025 (S3)<\/p>\n
Resistance: 0.7300 (R1), 0.7410 (R2), 0.7485 (R3)<\/p>\n
![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/October-2020\/12-10-2020\/USDCAD%20H4%2010122020.PNG\")
<\/p>\n
Support: 1.3035 (S1), 1.2955 (S2), 1.2885 (S3)<\/p>\n
Resistance: 1.3150 (R1), 1.3240 (R2), 1.3320 (R3)<\/p>\n
![\"benchmark-12-10-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/October-2020\/12-10-2020\/benchmark-12-10-2020.PNG\")
<\/p>\n
![\"table-12-10-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/October-2020\/12-10-2020\/table-12-10-2020.PNG\")
<\/p>\n
![\"morning-releases-12-10-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/October-2020\/12-10-2020\/morning-releases-12-10-2020.PNG\")
<\/p>\n
\u0625\u062e\u0644\u0627\u0621 \u0627\u0644\u0645\u0633\u0624\u0648\u0644\u064a\u0629:<\/p>\n
\u0644\u0627 \u062a\u064f\u0639\u062f \u0647\u0630\u0647 \u0627\u0644\u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0646\u0635\u064a\u062d\u0629 \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0623\u0648 \u062a\u0648\u0635\u064a\u0629 \u0628\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u060c \u0648\u0625\u0646\u0645\u0627 \u062a\u064f\u0639\u062f \u062a\u0648\u0627\u0635\u0644\u0627\u064b \u062a\u0633\u0648\u064a\u0642\u064a\u064b\u0627. \u0644\u0627 \u062a\u062a\u062d\u0645\u0644 IronFX \u0623\u064a \u0645\u0633\u0624\u0648\u0644\u064a\u0629 \u0639\u0646 \u0623\u064a \u0628\u064a\u0627\u0646\u0627\u062a \u0623\u0648 \u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0645\u0642\u062f\u0645\u0629 \u0645\u0646 \u0623\u0637\u0631\u0627\u0641 \u062b\u0627\u0644\u062b\u0629 \u062a\u0645 \u0627\u0644\u0625\u0634\u0627\u0631\u0629 \u0625\u0644\u064a\u0647\u0627 \u0623\u0648 \u0627\u0644\u0627\u0631\u062a\u0628\u0627\u0637 \u0628\u0647\u0627 \u0641\u064a \u0647\u0630\u0627 \u0627\u0644\u062a\u0648\u0627\u0635\u0644.<\/i><\/p>","protected":false},"excerpt":{"rendered":"
USD lost ground against its counterparts on Friday yet during today\u2019s Asian session seems to have found some support. It<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_daim_seo_power":"","_daim_enable_ail":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-14868","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"\n