BTC Breaks Below 10,000, AUDUSD Retreats

Asian indices finished mixed today after the Bank of Japan kept interest rates unchanged while Fed delivered 25 bps cut as widely expected by markets. The oil price stabilized after the drone attack in Saudi Arabia oil facilities which will cut 5% of the world oil supply. The Hang Seng trading 1.21 per cent lower at 26,424,  the Shanghai Composite trading 0.05 per cent lower to 2,984, while in Singapore the FTSE Straits Times index finished 0,01 per cent lower at 3,166. The ASX 200 in Australia finished 0.70% higher at 6,728.

European indices started higher today, DAX30 is 0.14 per cent higher to 12,406, CAC40 is 0.51 per cent higher at 5,644 while the FTSE MIB in Milan is 0.65 per cent higher at 22,090. In London FTSE 100 is trading 0.45% higher at 7,346. UK is scheduled to leave the EU on October 31.

In commodities markets, crude oil trades 0.33 per cent higher at $58.23 after the drone strikes in Saudi Arabia oil facilities. Brent oil is trading 0.22% higher at $62,80 per barrel as oil world supply will be affected by the drone attacks. Gold trades higher at 1,496 keeping the bullish momentum as the price holds above all the major daily moving averages. On the upside, strong resistance will be met at 1,555.13 recent high while support is at 1,479 the 50-day moving average. 

audusd retreats
BTCUSD Daily Chart

In cryptocurrencies, Bitcoin (BTCUSD) trading lower today at 9,870, hitting the daily low at 9,590 and the daily high at 10,201. Bitcoin short term momentum is neutral now as it trapped between the 100 and 50-day moving average. Immediate support for BTC stands now at $9,258 the low from August 29, while next support stands at 9,000. On the upside, strong resistance now stands at 12,315 the high from August 6th, and then at 13,500 round figure. Ethereum (ETHUSD) trades lower at 203,53 with capitalisation now to 22.1 billion, and on the upside, the immediate resistance stands at 317 high while the support stands at 136 the low from May 6th, Litecoin (LTCUSD) trades lower at 73.89. The crypto market cap capitalization now stands above $262.1 billion.

On the Lookout: Japan July all industry activity index which came in at +0.2% in line with expectations. 

The New Zealand Q2 GDP came in at  0.5% q/q topping expectations of 0.4%. 

Bank of Japan left it’s interest rate policy unchanged while Brazil’s central bank cut the benchmark rate by 50bps.

Trading Perspective: In forex markets, USD index trades 0.23 per cent lower at 98.32, the Aussie dollar trades 0.49 per cent lower at 0.6794, while Kiwi trades 0.04% lower at 0.6312.

GBPUSD trades 0.06% higher at 1.2469 as we are getting closer to Brexit deadline. Major support now stands at 1.2078 recent low which if broken might accelerate the slide further towards 1.20. On the upside, immediate resistance now stands at 1.2499 the 100-day moving average while more offers will emerge at 1.2735 the 200-day moving average.

In Pound futures markets open interest decreased by 58.500 contracts, volume drop by around 1.000 futures contracts.

EURUSD trades 0.31% higher at 1.1063 after the Fed yesterday cut the interest rates by 25bps. Immediate resistance for the pair stands at 1.1114, the 50-day moving average, and then at 1.1177 the 100-day moving average. On the downside, immediate support stands at 1.1022 today’s low and then at 1.0925 YTD low.

In euro futures markets open interest decreased by 73.400 contracts, the volume also decreased by around 13.500 futures contracts.

USDJPY is trading 0.40% lower at 108.01 having hit the daily low at 107.78 and the daily high at 108.46. USDJPY pair will find support at 104.44 the low from August 23rd. On the upside, immediate resistance for the pair now stands at 109.47 the 200-day moving average and then at 112.39 the high from April 2019. 

In Yen futures markets open interest decreased by 34,000 contracts, volume increased by around 356 futures contracts.

audusd retreats
USDJPY Daily Chart

USDCAD is trading 0.01 higher at 1.3288 the pair will find immediate support at 1.3017 the YTD low while extra support stands at 1.30 round figure. On the upside, immediate resistance now stands at the 1.3356 high from September 3rd before an attempt to 1.3450 high from 31st May.