Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements.
Market updates on November 25
Information is not investment advice
- During the weekend, China announced that it will raise punishments for violations of intellectual property rights. That move may be considered as a good step towards the US-China trade deal. It boosted the risk sentiment in the market. The Australian dollar inched higher towards the resistance at 0.6798 on H4 but slid down to the descending trend line and the support level at 0.6785. If this level is broken, the next support will lie at 0.6776. If the pair retests the 0.6798 level, the chance of reaching the resistance at 0.6810 will increase.
- USD/JPY has strengthened and tested the resistance at 108.85 on H4. In case of a breakout of this level, bulls will push the pair to the next resistance at 108.97. On the other hand, if the risk sentiment falls, the pair will be driven lower to the 108.65 support level. The next key level in bears' attention will be at 108.55.
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