The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
News to trade on October 25
- The European Central Bank will announce its official rate and conduct a press conference at 15:30 MT time. We do not anticipate the rate hike, however, the European Central Bank president Mario Draghi can make some hawkish comments for the EUR. For now, EUR/USD is testing the resistance at 1.1421. The hawkish comments by the European Central Bank President can make the pair rise to the next resistance at 1.1521. However, if the USD is strong or more concerns on the Italian budget come out, it will fall to the support at 1.1331.
As for the USD the level of core durable goods orders of the United States will be published. Analysts expect it to increase by 0.5%. If today’s data support the USD, the next resistance will be at 96.6. Otherwise, it will fall below the support at 96.02 to the next support at 95.25.
- Yesterday Fitch placed Australia higher on the credibility rating. It made the aussie to rise towards the resistance at 0.7083. If the USD is strong, the pair will fall below the support at 0.7050. Otherwise, the pair will rise above 0.7083.
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