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Global equity trade moved off support and allowed the Usd to lose ground in the latest session of trade. If S/P 500 holds 1095 both Gbp and Eur will make moves against the Usd.
Oil trade holding 73.50 support will allow Cad and Aud to appreciate, with Treasury yields moving lower allowing Chf and Jpy to move against the Usd.
Daily chart Simple Moving Averages are dominating all markets at the moment, and creating volatility.
Eur/Usd- Best moves at 2am and 7am ET. Daily range 130 pips. RSI is short. SMA is @ 1.2800. 12-month 90% correlation to Oil moves. Trading at the 100-day SMA in volatile fashion. Holding a tight channel, with a weak 4-hour chart overall outlook. 1.2850 resistance and 1.2650 support, with noise at 1.2750.
Gbp/Usd- Best moves between 8pm and 7am ET. Daily range 140 pips. RSI is neutral. 200 SMA is @ 1.5450. 12-month -89% correlation to VIX moves. Trading in tight ranges with a positive outlook. Take care here; the pair has found fair value ahead of the Bank of England rate decision on Thursday. 1.5550 resistance and 1.5390 support, with noise at 1.5430.
Aud/Usd- Best moves between 8pm and 6am ET. Daily trading range is 100 pips. RSI is neutral. SMA is @ 0.08950. 12-month 96% correlation to Oil moves. Red-flag economic releases are all that is impacting the pair; outside of reactions to volatile bursts of energy the pair is treading water. 0.9230 resistance and 0.9080 support, with noise at 0.9150.
Usd/Cad- Best moves after 2am ET. Daily range is 100 pips. RSI is long. SMA is @ 1.0400. 12-month 95% correlation to Oil moves. Weak looking daily chart, sideways 4-hour chart, and sporadic 30-min chart moves trading daily chart SMA areas that will need to absorb an interest rate increase. 1.0490 resistance and 1.0290 support, with noise at 1.0420.
Usd/Chf- Best moves after 3am ET. Daily range 130 pips. RSI is neutral. SMA is @ 1.0480. 12-month 93% inverse correlation to S&P and Oil moves. Looking for a near-term long reversal off any failed short tests of 1.0050 as the market locks the pair into daily yield-market reactions. 1.0240 resistance and 1.0050 support, with noise at 1.0200.