![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/November-2020\/14-11-2020\/AUDUSD%20H4%2011162020.PNG\")
<\/p>\nThe USD weakened against some of its counterparts on Friday yet tended to show some signs of stabilisation during today\u2019s Asian session. The market seems to be focusing on the prospects of a possible vaccine for COVID-19, causing safe haven outflows for the USD while at the same time preferring riskier assets. It was characteristic that commodity currencies were on the rise, as well as US stock markets, while also gold benefited from a weaker USD. On the flip side, coronavirus cases are surging on a global level and still tend to fuel worries for the effect on the recovery of the US economy. Should market sentiment continue to improve, the USD could extend losses, while should a more risk off mood prevail, USD could start gaining. AUD\/USD rose on Friday, testing the 0.7300 (R1) resistance line during today\u2019s Asian session. As the pair in its upward motion broke the downward trendline incepted since the 11th of November, we switch our bearish outlook in favour of a bullish outlook for the pair. Should the bulls continue to guide the pair, we could see AUD\/USD breaking the 0.7300 (R1) line and aim for the 0.7410 (R2) level. Should the bears take over, we could see the pair breaking the 0.7200 (S1) support line and continue southwards.<\/p>\n
The pound marked some slight gains against the USD the EUR and JPY, reversing Thursday\u2019s losses, as the UK enters a key week of negotiations after missing its 15th of November deadline. UK\u2019s top Brexit negotiator Frost stated yesterday that some progress was made in the negotiations, yet the two sides may not succeed in reaching an agreement. Also, news that Dominic Cummings, Johnson\u2019s close advisor, is set to resign tended to increase hopes for a possible deal between the EU and the UK. On the other hand, the UK government signalled that its position in the negotiations is not going to change because of the resignation of two of Brexit\u2019s architects. Should headlines start highlighting the risks surrounding a possible no deal scenario, we could see the pound losing some ground and vice versa.
\nGBP\/USD on Friday reversed the downward course of the past two days, breaking the 1.3150 (S2) and 1.3210 (S1) resistance lines, both now turned to support. As the pair broke the downward trendline incepted since the 11th of November, we switch our bearish outlook in favour of an upward movement. Should buyers be in charge of cable\u2019s direction, we could see the pair aiming if not breaking the 1.3285 (R1) line aiming for higher grounds. Should a selling interest be displayed by the markets, we could see GBP\/USD breaking the 1.3210 (S1) support line and aim if not break the 1.3150 (S2) level.<\/p>\n
Today in the European session, we get Norway\u2019s trade data for October, while in the American session, we note the US NY Fed Manufacturing index for November and Canada\u2019s manufacturing sales for September. Also note that RBA Governor Lowe, ECB\u2019s De Guindos, President Lagarde and Mersch, BoE\u2019s Haskel, San Francisco Daly and RBA\u2019s Kent are scheduled to speak, while RBA is to release the minutes of its last meeting.<\/p>\n
On Tuesday, we get Norway\u2019s GDP rates for Q3, and the US retail sales and industrial production growth rates for October. On Wednesday we get Japan\u2019s trade data for October, Australia\u2019s wage price index for Q3, UK\u2019s CPI rate for October, Eurozone\u2019s final HICP rate for October and Canada\u2019s inflation rates also for October. On Thursday, we get Australia\u2019s employment data for October, UK\u2019s CBI trends for Orders for November, Turkey\u2019s CBRT interest rate decision, and from the US the weekly initial jobless claims figure as well as the Philly Fed Business index for November. On Friday, we get Japan\u2019s inflation rates for October, Japan\u2019s preliminary Jibun Manufacturing PMI for November, UK\u2019s and Canada\u2019s retail sales for October as well as the preliminary consumer confidence indicator of the Eurozone for November.<\/p>\n
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Support: 0.7200 (S1), 0.7100 (S2), 0.7025 (S3)<\/p>\n
Resistance: 0.7300 (R1), 0.7410 (R2), 0.7480 (R3)<\/p>\n
![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/November-2020\/14-11-2020\/GBPUSD%20H4%2011162020.png\")
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Support: 1.3210 (S1), 1.3150 (S2), 1.3085 (S3)<\/p>\n
Resistance: 1.3285 (R1), 1.3375 (R2), 1.3470 (R3)<\/p>\n
![\"benchmark-16-11-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/November-2020\/14-11-2020\/benchmark-16-11-2020.PNG\")
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![\"table-16-11-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/November-2020\/14-11-2020\/table-16-11-2020.PNG\")
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![\"morning-releases-16-11-2020\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2020\/November-2020\/14-11-2020\/morning-releases-16-11-2020.PNG\")
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\u514d\u8d23\u58f0\u660e:<\/p>\n
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The USD weakened against some of its counterparts on Friday yet tended to show some signs of stabilisation during today\u2019s<\/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-14657","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"\n