US dollar hold its position, and BOE rate decision today.

07/11/2019

US dollar hold its position, and BOE rate decision today.

USD keeps its strong trend from the start of the week, one step away from the 9675 support level. As the profit taking from the risk-related currencies benefits the USD.

Gold recovered from its newly low 1480 to the level 1490, with highest 1494.26 USD per ounce. Oil drops, as report says the next meeting of OPEC wouldn’t cut oil supply further.

BOE is due to make its rate decision later today, followed by the speak of Carney at press conference thereafter. Market expects it to hold the rate unchanged.

GBP/USD, trading at 1.285, keeps going downtrend from newly high 1.297, testing key support level 1.28, and once it breaks it opens the downside trend to 1.26.

AUD/USD, trading at 0.688, going down from multi-tested newly high 0.693, downside risk 0.685 and 0.681.

USD/JYP, trading at 108.9, resisted at 109.3, upside trend is still on going. Support level 108.8 and resistance 109.3.

EUR/USD, trading at 1.107, resisted at 1.1093 following the drops from newly-high 1.1175, downside risk to 1.10.

USD dollar Basket, trading at 9754, recently double supported by key supportive level.