Even though the US CB Consumer Confidence Index fell for September yesterday and new home sales declined for August, there was a strengthening of dollar in major currency pair. In addition to the fall in the euro, pound and commodity currencies with precious materials are also nearing current annual minima.
USD/CAD
Yesterday, the US dollar/Canadian currency pair managed to get a foothold over the important level of 1.35. Dollar buyers who are able to get a foothold today above the alligator line on the daily timeframe could test the upper fractal of 1.3690. In the event of a bounce from 1.3520-1.3540 the price could test the lower fractal, at 1.3380.
Important for the pair’s pricing will be today’s publication of basic orders for durable goods in the US for August, which is scheduled for 15.30 GMT+3. The weekly data on crude inventories in the United States is also important. It will be published at 17.30 GMT+3.
AUD/USD
Despite the slowdown of the Chinese economy, the pair AUD/USD remains confidently within the range of 0.6440-0.6500. Aussie buyers have held the 0.6400-0.6350 area for over six weeks.
