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Intraday Market Analysis – USD sees some support


USDCHF attempts to rebound

After the Q3 GDP was below expectations, the Swiss franc fell. A tentative break below last August’s low of 0.9380 further put the bulls on the defensive. Multiple tests at this level indicate strong interest in maintaining the greenback stable. Recent highs at 0.9600 The key resistance is located near the 20-day moving mean, which makes it a congestion area. A bullish breakout could send the pair to 0.97750. 0.9460 The price is at a fresh support level and could be subject to a sell-off if it falls below 0.9380.

USDCAD breaks resistance

A deceleration of Q3 GDP saw the Canadian dollar fall. A string of lower lows has already indicated growing buying pressure. A break above 1.3570, a support-turned-resistance from a sell-off earlier this month may help the pair regain traction and extend to November’s peak of 1.3800. A close above this hurdle could open the door to a bullish continuation over 1.4000. 1.3500 In case momentum slows, it has been a new support. 1.3400 is the bulls’ second line of defence in case of a deeper correction.

XAUUSD consolidates gains

Due to the repositioning of the US Dollar ahead of the Job Report, gold struggles. The price…

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