Technical Analysis
GBP/USD has been range-bound since last week, and is showing little inclination to test immediate support or resistance lines. On the upside, the pair is within striking distance of 1.3200. This resistance line has held since late March, so it would be a significant development for the pair if this line is breached. The round number of 1.31 is providing support.
Pacific Currencies – Summary
USD/CNY
USD/CNY is showing little movement this week. The pair is currently at 7.0371, down 0.06% on the day. There was positive news on the inflation front, as Chinese CPI jumped to 4.5%, up from 3.8% a month earlier. This marked the highest gain since 2012.
AUD/USD
AUD/USD is flat in European trade following mixed Australian releases. The House Price Index gained 2.4% in Q3, ending a nasty streak of six consecutive declines. However, NAB Business Confidence fell to zero in November, down from 2 pts a month earlier.
NZD/USD
NZD/USD has reversed directions on Tuesday and posted slight gains. Currently, the pair is trading at 0.6556, up 0.15% on the day. There are on New Zealand events on the schedule, so it will likely remain a quiet day for the pair.