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Daily Pivots: (S1) 1.5060; (P) 1.5157; (R1) 1.5208; More....

Intraday bias in EUR/AUD remains neutral first. While the pull back from 1.5392 was steep, it's holding well above 1.4949 support. Thus, medium term rally is still in favor to resume. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we're holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

Daily Pivots: (S1) 1.1541; (P) 1.1595; (R1) 1.1630; More...

Intraday bias in EUR/CHF remains neutral for the moment. Pull back from 1.1709 might extend lower. But still, as long as 1.1483 minor support holds, we'd expect further rally ahead. Break of 1.1709 will target 1.2 key level. However, break of 1.1483 will be an early sign of reversal. In that case, deeper decline should be seen back to 1.1355 support.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1355 support holds. However, break of 1.1355 will indicate medium term topping. In that case, EUR/CHF should head back to 55 week EMA (now at 1.1067) and possibly below.

For the 24 hours to 23:00 GMT, the AUD rose 0.22% against the USD and closed at 0.7670 on Friday.

LME Copper prices declined 1.9% or $132.5/MT to $6831.5/MT. Aluminium prices declined 2.5% or $55.0/MT to $2119.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7676, with the AUD trading 0.08% higher from Friday’s close.

The pair is expected to find support at 0.7640, and a fall through could take it to the next support level of 0.7604. The pair is expected to find its first resistance at 0.7697, and a rise through could take it to the next resistance level of 0.7718.

Investors will now closely assess Australia’s HIA new homes sales and private sector credit data, both for September, due overnight.

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

Daily Pivots: (S1) 148.62; (P) 149.32; (R1) 149.83; More

Intraday bias in GBP/JPY is mildly on the downside for 149.82 support. Break there will resume the correction from 152.82 and target 61.8% retracement of 139.29 to 152.82 at 144.45. Such decline is seen as a correction and we'd look for strong support from 144.45 to bring rebound. On the upside, above 151.38 will target a test on 152.82 high instead.

In the bigger picture, medium term rebound from 122.36 is still expected to resume after corrective pull back from 152.82 completes. Firm break of 38.2% retracement of 196.85 to 122.36 at 150.43 will carry long term bullish implications. In that case, GBP/JPY could target 61.8% retracement at 167.78. However, break of 139.29 will indicate rejection from 150.43 key fibonacci level. And the three wave corrective structure of rebound from 122.36 will argue that larger down trend is resuming for a new low below 122.26.

For the 24 hours to 23:00 GMT, the EUR declined 0.31% against the USD and closed at 1.1600 on Friday, after the Catalan Parliament declared its independence from Spain.

The European Central Bank’s (ECB) survey of professional forecasters showed that the Eurozone consumer price index could be higher than earlier expected in five years’ time, thus supporting the ECB’s recent decision to trim its monetary stimulus. Inflation growth is expected to rise to 1.9% by 2022, in line with the central bank’s target and above the 1.8% projected three months ago. Moreover, the Eurozone economy is also expected to grow at a faster rate than previously expected for both 2018 and 2019. The survey now anticipates growth at 1.9% and 1.7% in 2018 and 2019, respectively.

On the macro front, German import price index advanced more than expected on a yearly basis in September as it registered a rise of 3.0%, compared to a rise of 2.1% in the previous month. Market anticipation was for the import price index to climb 2.6%.

The US Dollar gained ground against its major counterparts after macroeconomic data showed that the world’s largest economy expanded at an annual rate of 3.0% on a QoQ basis in the third quarter of 2017, compared to a rise of 3.1% in the prior quarter. Market had anticipated the annualised GDP growth to ease to 2.6% due to devastation caused by Hurricanes Harvey and Irma. Additionally, the final Reuters/Michigan consumer sentiment index in the US rose to 100.7 in October, at par with market expectations. In the prior month, the consumer sentiment index had recorded a reading of 95.1. The preliminary figures had indicated an advance to 98.0. However, gains in the US dollar were pared following news that US President, Donald Trump, was leaning toward Federal Reserve Governor, Jerome Powell, as the next US central bank Chairman.

In the Asian session, at GMT0400, the pair is trading at 1.1614, with the EUR trading 0.12% higher from Friday’s close.

The pair is expected to find support at 1.1578, and a fall through could take it to the next support level of 1.1542. The pair is expected to find its first resistance at 1.1647, and a rise through could take it to the next resistance level of 1.1680.

Moving ahead, all eyes will be on the Eurozone economic confidence and business climate indicator, along with the region’s final consumer confidence index, all for October, due to release today. Moreover, Germany’s inflation numbers for October and the nation’s retail sales data for September, scheduled for today, will be on investors’ radar. In the US, personal spending as well as income figures for September, set to release later in the day, will also garner significant market attention.

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

For the 24 hours to 23:00 GMT, the GBP declined 0.06% against the USD and closed at 1.3125 on Friday.

In the Asian session, at GMT0400, the pair is trading at 1.3141, with the GBP trading 0.12% higher from Friday’s close.

The pair is expected to find support at 1.3093, and a fall through could take it to the next support level of 1.3045. The pair is expected to find its first resistance at 1.3166, and a rise through could take it to the next resistance level of 1.3191.

Later in the day, market participants will look forward to the release of UK’s net consumer credit and mortgage approvals data, both for September, for further direction.

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

For the 24 hours to 23:00 GMT, the USD declined 0.37% against the JPY and closed at 113.70 on Friday.

In the Asian session, at GMT0400, the pair is trading at 113.58, with the USD trading 0.11% lower from Friday’s close.

Overnight data indicated that Japan’s retail trade rose 2.2% on a yearly basis in September, compared to a revised advance of 1.8% in the previous month. Market anticipation was for retail trade to rise 2.3%.

The pair is expected to find support at 113.26, and a fall through could take it to the next support level of 112.93. The pair is expected to find its first resistance at 114.18, and a rise through could take it to the next resistance level of 114.77.

Going ahead, investors would focus on Japan’s jobless rate and preliminary industrial production data, both for September, scheduled to release overnight.

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

For the 24 hours to 23:00 GMT, the USD marginally declined against the CHF and closed at 0.9980 on Friday.

In the Asian session, at GMT0400, the pair is trading at 0.9973, with the USD trading 0.07% lower from Friday’s close.

The pair is expected to find support at 0.9949, and a fall through could take it to the next support level of 0.9926. The pair is expected to find its first resistance at 1.0017, and a rise through could take it to the next resistance level of 1.0062.

Market participants will now await the release of Switzerland’s KOF leading indicator for October, due to release in a few hours.

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

For the 24 hours to 23:00 GMT, the USD declined 0.21% against the CAD and closed at 1.2829 on Friday.

In the Asian session, at GMT0400, the pair is trading at 1.2826, with the USD trading 0.02% lower from Friday's close.

The pair is expected to find support at 1.2784, and a fall through could take it to the next support level of 1.2741. The pair is expected to find its first resistance at 1.2893, and a rise through could take it to the next resistance level of 1.2959.

Amid no major macroeconomic releases in Canada today, investors will focus on global macroeconomic factors for further cues.

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

Daily Pivots: (S1) 131.49; (P) 132.22; (R1) 132.68; More...

Intraday bias in EUR/JPY remains neutral for the moment with focus on 131.65 key support. Decisive break there will confirm rejection from 134.20 fibonacci level. That will also complete and double top pattern (134.39, 134.48) and confirms near term reversal. 55 day EMA will also be firmly taken out. In that case, deeper decline should be seen back to 127.55 key support. On the upside, decisive break of 134.39/48 resistance zone is needed to confirm up trend resumption. Otherwise, even in case of rebound, near term outlook is neutral at best.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will argue that the medium term trend has reversed and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.