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USD Overview (22 July 2020)

  • #1
  • First Post: Jul 22, 2020 4:39am Jul 22, 2020 4:39am

USD Overview (22 July 2020)

Yesterday, USD weakened against all major currencies.

The U.S. reported more than 1000 deaths from COVID-19 yesterday, the biggest single-day increase since early June.

Also, the U.S. Justice Department indicted two Chinese nationals of espionage, accusing them of stealing data of weapons designs, drug information, software source code and personal data.



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  • #2
  • Jul 22, 2020 4:40am Jul 22, 2020 4:40am

NZD/USD Outlook (22 July 2020)


Overall, NZD/USD is trending upwards. Recently, NZD/USD broke above the resistance zone of 0.65800.

NZD/USD’s next support zone is at 0.65800 and the next resistance zone is at 0.67200.
Look for buying opportunities of NZD/USD.
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  • #3
  • Jul 22, 2020 4:54am Jul 22, 2020 4:54am

AUD/USD Outlook (22 July 2020)


Overall, AUD/USD is trending upwards. Recently, AUD/USD trended higher, breaking above the key level of 0.71.

The Australian Retail Sales m/m data (Actual: 2.4%, Forecast: NA, Previous: 16.9%) released earlier today indicated a slower increase in consumer spending in June.

AUD/USD’s next support zone is at 0.69800 and the next resistance zone is at 0.71800.
Look for buying opportunities of AUD/USD.
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  • #4
  • Jul 22, 2020 4:55am Jul 22, 2020 4:55am

USD/JPY Outlook (22 July 2020)


Overall, USD/JPY is ranging across. Recently, USD/JPY trended lower, breaking below the key level of 107.

The Japanese Flash Manufacturing PMI data (Actual: 42.6, Forecast: NA, Previous: 40.1 revised from 37.8) released earlier today indicated a slight slowdown in the contraction of the manufacturing sector in July.

The Japanese banks will be closed tomorrow in observance of Marine Day. Expect lower trading volume and volatility during the Japanese market session.

USD/JPY’s next support zone is at 106.200 and the next resistance zone is at 107.800.
Look for selling opportunities of USD/JPY.

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  • #5
  • Jul 22, 2020 4:56am Jul 22, 2020 4:56am

EUR/USD Outlook (22 July 2020)


Overall, EUR/USD is trending upwards. Recently, EUR/USD trended higher into the resistance zone of 1.15300.

Currently, EUR/USD is testing the resistance zone of 1.15300 and the next support zone is at 1.13700.
With the recent optimism sparked by the agreement of the 750 billion euros in grants and loans among the EU27, look for buying opportunities of EUR/USD if it breaks the resistance zone of 1.15300.
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  • #6
  • Jul 22, 2020 4:57am Jul 22, 2020 4:57am

GBP/USD Outlook (22 July 2020)


Overall, GBP/USD is trending upwards. Recently, GBP/USD broke the resistance zone of 1.26500.

GBP/USD’s next support zone is at 1.26500 and the next resistance zone is at 1.28000.
Look for buying opportunities of GBP/USD.
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  • #7
  • Jul 22, 2020 4:58am Jul 22, 2020 4:58am

USD/CAD Outlook (22 July 2020)


Overall, USD/CAD is trending downwards. Recently, USD/CAD broke below the support zone of 1.35100.

The Canadian Retail Sales m/m data released yesterday indicated a recovery in consumer spending in May with majority of the sales deriving from motor vehicle and parts dealers.
- Core Retail Sales m/m (Actual: 10.6%, Forecast: 11.9%, Previous: -20.7% revised from -22.0%)
- Retail Sales m/m (Actual: 18.7%, Forecast: 20.2%, Previous: 25.0% revised from -26.4%)

The Canadian CPI m/m data will be released later at 2030 (SGT).
- CPI m/m (Forecast: 0.4%, Previous: 0.3%)
- Core CPI m/m (Forecast: NA, Previous: -0.1%)

USD/CAD’s next support zone is at 1.33800 and the next resistance zone is at 1.35100.
Look for short-term selling opportunities of USD/CAD up until the release of the CPI data at 2030 (SGT).
  • #8
  • Jul 22, 2020 4:59am Jul 22, 2020 4:59am
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  • #9
  • Jul 22, 2020 5:01am Jul 22, 2020 5:01am

GBP/JPY Outlook (22 July 2020)


Overall, GBP/JPY is trending upwards.

The Japanese Flash Manufacturing PMI data (Actual: 42.6, Forecast: NA, Previous: 40.1 revised from 37.8) released earlier today indicated a slight slowdown in the contraction of the manufacturing sector in July.

The Japanese banks will be closed tomorrow in observance of Marine Day. Expect lower trading volume and volatility during the Japanese market session.

Currently, GBP/JPY is testing the resistance zone of 135.900 and the next support zone is at 133.780.
Look for buying opportunities of GBP/JPY if it breaks the resistance zone of 135.900.
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  • #10
  • Last Post: Jul 22, 2020 5:02am Jul 22, 2020 5:02am

EUR/JPY Outlook (22 July 2020)


Overall, EUR/JPY is trending upwards. Recently, EUR/JPY broke above the key level of 123.

The Japanese Flash Manufacturing PMI data (Actual: 42.6, Forecast: NA, Previous: 40.1 revised from 37.8) released earlier today indicated a slight slowdown in the contraction of the manufacturing sector in July.

The Japanese banks will be closed tomorrow in observance of Marine Day. Expect lower trading volume and volatility during the Japanese market session.

EUR/JPY’s next support zone is at 121.700 and the next resistance zone is at 124.200.
With the recent optimism sparked by the agreement of the 750 billion euros in grants and loans among the EU27, look for buying opportunities of EUR/JPY.
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