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FX Daily Majors

Today’s highlights: EURUSD spotlight turns towards near-term price support at 1.2706.

EUR/USD failed on top yesterday. Back below 1.2695 would expose the short-term 1.2605 key ref once more…

Main release will be US CPI for September. Inflation has been subdued in the pastmonths with monthly changes in core CPI being low.

German bonds recorded some gains early yesterday, but the market mood changed later on the back of a report suggesting the ECB

The recovery from ahead of $1180.2-1182.4 resulted in the first pop above the 55-DMA

The $84.08 resistance level remains key this week with bulls needing a close above to

The pair closed in NY Tuesday at $1.6121 after rate had been pulled lower through the day to $1.6110 on

Bulls take some comfort in the bounce from ahead of the 2900.0 level when combined with

The pair ended NY session at $1.2716 after marking a trading range of $1.2716 to $1.2784.

The continued failures at the $1.2845 level confirm its significance as resistance with bulls needing a close above to add support to

AUD/USD grinding steadily higher after the Q3 CPI today, which initially saw selling to

The pair started at Y107.00 in Asia Wednesday, early demand lifted the rate to Y107.12 before recovery lower to