21 Oct, 2024
5 minutes
Daily Technical Analysis：GBP/USD、AUD/USD
Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and AUD/USD. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. GBP/USD Analysis:
News Summary:
UK retail sales data were stronger than expected, suggesting the country's economy may be doing well, contrasting with signs the euro zone economy is faltering. The data was released shortly after the European Central Bank decided to cut interest rates on Thursday, sparking market expectations that interest rates may be cut at every interest rate meeting in the coming months. Better-than-expected UK retail sales data for September follow strong growth in August, another sign that the UK's economic performance remains relatively solid.
Trend Analysis:
We can see GBP/USD H4 level continues to rebound and runs above the 48 hours moving average. In addition, the MACD double line and energy column expand below the zero axis. The buy limit could be used, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.2970]
Key Resistance Levels: [1.3100]
Pivot Points [1.3000]
2. AUD/USD Analysis:
News Summary:
Australian data shows that Australia's net employment population increased by 64,100 in September compared with August, much higher than the market forecast of 25,000, and most of the increase came from full-time employment. August data was revised down to an increase of 42,600. Australia's September employment data came in better than expected for the sixth consecutive month. Interest rate swap prices show that the probability of the Reserve Bank of Australia cutting interest rates before the end of the year is 31%, down from 46% before the data was released.
Trend Analysis:
We can see AUD/USD rebounded again and returned to the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy column further expanded below the zero axis. The buy limit could be placed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [0.6640]
Key Resistance Levels: [0.6790]
Pivot Points [0.6670]