Australian Dollar Tested Yearly Highs: Analysis For USD/JPY, EUR/USD, AUD/USD, NZD/USD

USD/JPY Settled Close To The 144.00 Level

USD/JPY remains stuck near the 144.00 level as traders wait for additional catalysts. Today, traders will have a chance to take a look at the New Home Sales report for August. The report is expected to show that New Home Sales decreased by 5.1% month-over-month in August.

A move above the 144.00 level will open the way to the test of the nearest resistance at 146.00 – 146.50.

EUR/USD Tests Resistance At 1.1185 – 1.1200

EUR/USD tests resistance at 1.1185 -1.1200 as traders stay bullish. There are no important economic reports scheduled to be released in the Euro Area today, so traders will stay focused on general market sentiment.

RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge. If EUR/USD settles above the 1.1200 level, it will move towards the next resistance level, which is located in the 1.1280 – 1.1290 range.

AUD/USD Pulled Back From Yearly Highs

AUD/USD tested yearly highs but lost momentum and pulled back amid profit-taking. Traders focused on the Monthly CPI Indicator, which pulled back from 3.5% in July to 2.7% in August. Analysts expected that Monthly CPI Indicator would drop to 2.8%.

From the technical point of view, AUD/USD is trying to settle above the resistance at 0.6890 – 0.6900. In case this attempt is successful, AUD/USD will move towards the next resistance level, which is located in the 0.6960 – 0.6970 range.

NZD/USD Moved Lower As Precious Metals Markets Declined

NZD/USD pulled back after an unsuccessful attempt to settle above the 0.6350 level. Traders focused on the pullback in precious metals markets, which was bearish for commodity-related currencies.

In case NZD/USD pulls back below the 0.6300 level, it will head towards the nearest support, which is located in the 0.6235 – 0.6250 range. On the upside, a move above the resistance at 0.6360 – 0.6370 will open the way to the test of the next resistance level at 0.6450 – 0.6460.

For a look at all of today’s economic events, check out our economic calendar.