Currency: Euro/USD
Resistance level 2:1.0800
Resistance level 1:1.0770
Spot price: 1.0758
Support bit 1:1.0700
Support bit 2: 1.0660
On Tuesday (September 12th), prior to the European Central Bank's interest rate meeting on Thursday, the euro/dollar remained largely stable and closed at the previous trading day's level of 1.0755. For the September European Central Bank's interest rate meeting, analysts at Wells Fargo expect the European Central Bank to maintain interest rates unchanged, but expect the European Central Bank to make hawkish remarks while standing still and may compensate by reducing its balance sheet. If so, it may temporarily stabilize the euro. Investors will be waiting for Wednesday's US Consumer Price Index (CPI) inflation data before the European Central Bank meeting on Thursday. Although inflation data is unlikely to shake the Federal Reserve's expectation of keeping interest rates unchanged in next week's policy statement, if the data remains strong, it may increase expectations of further rate hikes at upcoming meetings. If that's the case, the euro will still have to bear downward pressure. On the 4-hour short-term chart, the euro appears to be undergoing a corrective rebound consolidation, but the strength is limited. On the daily chart, it continues to operate within the downward channel, with no signs of any change in the downward trend. We still need to continue to guard against the risk of the euro being sold at high points.
Currency: GBP/USD
Resistance level 2:1.2630
Resistance level 1:1.2565
Spot price: 1.2498
Support bit 1:1.2445
Support bit 2:1.2400
On Tuesday (September 12th), the pound fell 0.18% against the US dollar again from Monday's weak rebound, closing at its recent low of 1.2487. According to data released by the Office for National Statistics on Tuesday, in the three months to July, salaries in the UK, excluding bonuses, increased by 7.8% compared to the same period last year, while the growth rate remained unchanged, marking the largest increase in history in June. The data did not provide a good boost to the pound, indicating that the market's focus is still on inflation data in the United States, and the trend of the US dollar remains the main influencing factor affecting the pound. The 4-hour chart shows that the pound has been fluctuating and consolidating in the recent low range, with 1.2530 becoming the short-term resistance after the top to bottom transition, while the previous low of 1.244 still exists as short-term support. Continue to observe which level the GBP/USD will break through, or there may be some clear direction.
Currency: USD/JPY
Resistance level 2:147.87
Resistance level 1:147.30
Spot price: 147.23
Support bit 1:146.60
Support bit 2:146.00
On Tuesday (September 12th), the US dollar rose 0.39% against the Japanese yen to 147.15, reversing some of the 0.83% decline on Monday. Previously, the remarks of Bank of Japan President Ishida and Nobunaga reinforced market expectations that the Bank of Japan may abandon its negative interest rate policy. However, on Tuesday, influential ruling party member and Liberal Democratic Party Senate Secretary General Hiroshi Shigeng expressed his preference for adopting ultra loose monetary policy. Until now, the Bank of Japan remains a pigeon like outlier among global central banks. Karl Schamotta, Chief Market Strategist at Corpay, said: Even if the Bank of Japan abandons its negative interest rate policy, the reality is that the interest rate spread will still be very large. The tide of profit seeking trading will not easily recede. The US inflation data for the day is about to be released, and if the data remains robust, it will raise the bet that interest rates may continue to rise in the future, which is definitely unfavorable for the yen. Since the US dollar/yen broke the warning line of intervention by the Bank of Japan last year, traders have been concerned about when the Bank of Japan will intervene. Therefore, it is still necessary to be vigilant against the risk of knee jerk overreaction caused by the intervention of the Bank of Japan. In terms of technical graphics, if the US dollar rises, pay attention to the pressure of 147.85-148.30 above and support of 146.30-145.50 below.
This opinion only represents an individual and does not have an absolute definition. It is only a reminder from Aihuicha
