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Daily Pivots: (S1) 0.7057; (P) 0.7082; (R1) 0.7100; More...

Intraday bias in AUD/USD remains neutral as it's staying in range of 0.7056/7168. On the downside, break of 0.7056 minor support will turn bias to the downside for 0.7003 first. Break will resume the whole decline from 0.7295. On the upside above 0.7168 will resume the rebound from 0.7003 towards 0.7295 high instead.

In the bigger picture, as long as 0.7393 resistance holds, we'd treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

For the 24 hours to 23:00 GMT, the USD rose 0.14% against the JPY and closed at 110.66.

In the Asian session, at GMT0400, the pair is trading at 110.73, with the USD trading 0.06% higher against the JPY from yesterday’s close.

Overnight data showed that in Japan, jobless rate fell to 2.3% in February, hitting its lowest level in 9 months and compared to a rate of 2.5% in the previous month. Additionally, preliminary industrial production advanced 1.4% on a monthly basis in February, meeting market expectations and compared to a drop of 3.4% in the prior month. Meanwhile, retail trade rose 0.2% on a monthly basis in February, less-than-anticipated and compared to a revised drop of 1.8% in the previous month.

The pair is expected to find support at 110.19, and a fall through could take it to the next support level of 109.65. The pair is expected to find its first resistance at 111.10, and a rise through could take it to the next resistance level of 111.47.

Going ahead, traders would await Japan’s housing starts for February, slated to release in a while.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 1.3408; (P) 1.3431; (R1) 1.3466; More...

USD/CAD rises mildly today but stays below 1.3467 resistance. Intraday bias remains neutral first. Further rise is expected as long as 1.3352 minor support holds. On the upside, firm break of 1.3467 resistance will reinforce the case that corrective pull back from 1.3664 has completed at 1.3068. USD/CAD should then target a test on 1.3664. On the downside, break of 1.3352 minor support will turn intraday bias back to the downside for 1.3250 support first.

In the bigger picture, structure of the medium term rise from 1.2061 (2017 low) to 1.3664 is not clearly impulsive. Hence, we'd stay cautious on strong resistance from 61.8% retracement of 1.4689 (2016 high) to 1.2061 at 1.3685 and 1.3793 resistance to limit upside, and bring medium term topping. But in any case, medium term outlook will stay bullish as long as channel support (now at 1.3192) holds. Sustained break of 1.3793 will pave the way to retest 1.4689 (2015 high). However, firm break of the channel support should confirm reversal and target 1.2061 low again.

For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CHF and closed at 0.9946.

In the Asian session, at GMT0400, the pair is trading at 0.9954, with the USD trading 0.08% higher against the CHF from yesterday’s close.

The pair is expected to find support at 0.9918, and a fall through could take it to the next support level of 0.9881. The pair is expected to find its first resistance at 0.9979, and a rise through could take it to the next resistance level of 1.0003.

Amid lack of economic releases in Switzerland today, traders would focus on global macroeconomic events for further direction.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD rose 0.19% against the CAD and closed at 1.3435.

Data indicated that Canada's CFIB business barometer decline to a level of 55.9 in March, following a level of 59.0 in the preceding month.

In the Asian session, at GMT0400, the pair is trading at 1.3432, with the USD trading a tad lower against the CAD from yesterday's close.

The pair is expected to find support at 1.3402, and a fall through could take it to the next support level of 1.3373. The pair is expected to find its first resistance at 1.3456, and a rise through could take it to the next resistance level of 1.3481.

Trading trend in the Loonie today, is expected to be determined by Canada's gross domestic product for January, slated to release later in the day.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the AUD declined 0.17% against the USD and closed at 0.7077.

LME Copper prices rose 0.7% or $46.5/MT to $6385.0/MT. Aluminium prices rose 2.5% or $47.0/MT to $1896.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7086, with the AUD trading 0.13% higher against the USD from yesterday’s close.

Earlier in the session, Australia’s private sector credit demand rose 0.3% on a monthly basis in February, more than market expectations. In the previous month, private sector credit demand had risen 0.2%.

The pair is expected to find support at 0.7065, and a fall through could take it to the next support level of 0.7043. The pair is expected to find its first resistance at 0.7107, and a rise through could take it to the next resistance level of 0.7127.

Looking ahead, investors would keep an eye on Australia’s CBA manufacturing PMI, building approvals, retail sales along with the Reserve Bank of Australia’s interest rate decision, all set to release next week.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

For the 24 hours to 23:00 GMT, Gold declined 1.45% against the USD and closed at USD1295.60 per ounce, as strength in US dollar dampened demand for the dollar denominated commodity.

In the Asian session, at GMT0400, the pair is trading at 1293.80, with gold trading 0.14% lower against the USD from yesterday’s close.

The pair is expected to find support at 1285.53, and a fall through could take it to the next support level of 1277.27. The pair is expected to find its first resistance at 1309.83, and a rise through could take it to the next resistance level of 1325.87.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 1.1204; (P) 1.1233; (R1) 1.1253; More.....

EUR/USD's fall from 1.1448 is still in progress. Intraday bias remains on the downside for 1.1176 low. Decisive break there will resume whole decline from 1.2555. On the upside, however, break of 1.1285 minor resistance will turn bias back to the upside for 1.1448 instead.

In the bigger picture, medium term outlooks is a bit mixed for now as there are conflicting signals. We'll turn neutral first. On the downside, decisive break of 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186 will resume the whole down trend from 1.2555. Next target will be 1.0339 low. Nevertheless, break of 1.1569 resistance should confirm medium term bottoming. Stronger rebound should be seen back to 38.2% retracement of 1.2555 to 1.1176 at 1.1703. In that case, the structure of the rise from 1.1176 and reaction to 1.1703 fibonacci level will be watched for making an assessment on whether medium term trend has reversed, or rebound form 1.1176 is merely a correction.

For the 24 hours to 23:00 GMT, Silver declined 1.80% against the USD and closed at USD15.00 per ounce, led by losses in gold prices.

In the Asian session, at GMT0400, the pair is trading at 14.99, with silver trading marginally lower against the USD from yesterday’s close.

The pair is expected to find support at 14.86, and a fall through could take it to the next support level of 14.73. The pair is expected to find its first resistance at 15.22, and a rise through could take it to the next resistance level of 15.45.

The white metal is trading below its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 1.2978; (P) 1.3096; (R1) 1.3157; More....

GBP/USD is staying in range of 1.2960/3381 and intraday bias remains neutral first. As long as 1.2960 support holds, further rally remains in favor. On the upside, firm break of 1.3381 will resume the rebound from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. However, on the downside, decisive break of 1.2960 will indicate that rebound from 1.2391 has completed earlier than expected. Deeper fall would then be seen to 1.2773 support for confirmation.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.