Although upbeat economic at the largest customer will dim prospects of further rate cuts after Thursday’s surprise decline in Australian employment data, doubts over the US-China trade developments and mixed messages from the RBA policymakers could keep the AUD/USD pair’s upside capped.
USD/JPY is currently trading in the 108.60s in a tight spot and touch away from the 200-day moving average as risk appetite kicks in again. Overnight, USD/JPY made a three-month high at 108.94 before slipping to 108.60.
The UK finally convinced the EU to endorse their Brexit withdrawal agreement. When the announcement was made early this morning, sterling jumped more than 170 pips in a matter of minutes.
Despite trading in a small range, Gold’s upside has fewer odds due to the key resistances standing untouched while the quote seesaws near $1,492 during early Friday.
The price has been stuck within the bearish flag for some three weeks now, edging towards a breakout. BTC/USD has broken out from a near-term range-block formation, which is subject to a retest.
At the time of writing, TRX/USD is changing hands at $0.0148. The coin has lost over 6.5% in recent 24 hours, and the downside momentum is still growing.
As part of the collaboration, Finastra’s customers will get access to the payment network RippleNet that connects over 200 financial institutions worldwide. They will be able "to send international payments with end-to-end tracking and visibility into fees, delivery time and status."
ETH bottomed at $171.90 on Wednesday. By the time of writing, the second largest coin recovered to $176.78, however, the upside momentum is too weak to allow for an extended recovery towards critical $180.00.
US-China trade talks and Brexit fueled risk-on sentiment
Risk-on has taken over the financial sphere these last couple of days, on encouraging news coming from the two big turmoil fronts, Brexit and the trade war between the US and China. The EUR/USD pair has advanced for a second consecutive week, recovering the 1.1000 threshold and rallying to 1.1062, on hopes both ships will reach good port.
GBP/USD has been settling around 1.28 as UK-EU Brexit negotiations reach the all-important leaders' summit. How is cable positioned? It seems somewhat vulnerable.
The Technical Confluences Indicator is showing that the most significant convergence of lines is at 1.2840, serving as resistance. The cluster includes the previous four-hour high, the Pivot Point one-week Resistance 1, and the Bollinger Band 15-minute Upper.
Support awaits at 1.2795, and it is somewhat weaker. The confluence includes the Fibonacci 38.2% one-day and the Simple Moving Average 100-15m.
Lower, the next substantial support line awaits at 1.2715, which is the meeting point of the previous weekly high, the SMA 200-one-day, and the PP one-day S1.
The upside target is 1.2908, which is where the Pivot Point one-month Resistance 2 meets the price.