Daily Forex Analysis - 27 November 2020

USD Overview (27 November 2020)

Yesterday, USD strengthened against most major currencies except JPY and CHF.

OPEC meetings will be held next Monday.

NZD/USD Outlook (27 November 2020)

Overall, NZD/USD is trending upwards. Recently, NZD/USD has been ranging across within the resistance zone of 0.70000.

The New Zealand ANZ Business Confidence data (Forecast: NA, Previous: -15.6) will be released next Monday at 0800 (SGT).

OPEC meetings will be held next Monday.

Currently, NZD/USD is testing the resistance zone of 0.70000 and the next support zone is at 0.67900.

Look for short-term buying opportunities of NZD/USD if it breaks the resistance zone of 0.70000.

AUD/USD Outlook (27 November 2020)

Overall, AUD/USD is trending upwards. Recently, AUD/USD has been ranging across.

OPEC meetings will be held next Monday.

Currently, AUD/USD is moving towards the resistance zone of 0.73900 and the next support zone is at 0.72200.

Look for short-term buying opportunities of AUD/USD if it breaks the resistance zone of 0.73900.

USD/JPY Outlook (27 November 2020)

Overall, USD/JPY is ranging across.

OPEC meetings will be held next Monday.

Currently, USD/JPY is testing the next support zone of 104.200 and the next resistance zone is at 106.300.

Look for short-term buying opportunities of USD/JPY if it bounces off the support zone of 104.200.

EUR/USD Outlook (27 November 2020)

Overall, EUR/USD is ranging across. Recently, EUR/USD bounced up from the key level of 1.19.

The French preliminary CPI and GDP data will be released later at 1545 (SGT).

- French Preliminary CPI m/m (Forecast: 0.0%, Previous: 0.0% revised from -0.1%)

- French Preliminary GDP q/q (Forecast: 18.2%, Previous: 18.2%)

OPEC meetings will be held next Monday.

EUR/USDs next support zone is at 1.17900 and the next resistance zone of 1.19800.

Look for short-term buying opportunities of EUR/USD.

GBP/USD Outlook (27 November 2020)

Overall, GBP/USD is trending upwards. Recently, GBP/USD bounced down from the key level of 1.34.

OPEC meetings will be held next Monday.

GBP/USDs next support zone is at 1.32200 and the next resistance zone is at 1.34600.

Look for short-term buying opportunities of GBP/USD.

USD/CAD Outlook (27 November 2020)

Overall, USD/CAD is trending downwards. Recently, USD/CAD has been ranging across within the support zone of 1.30300.

OPEC meetings will be held next Monday.

Currently, USD/CAD is testing the support zone of 1.30300 and the next resistance zone is at 1.32200.

Look for short-term selling opportunities of USD/CAD if it breaks the support zone of 1.30300.

GBP/JPY Outlook (27 November 2020)

Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced off the resistance zone of 140.000.

OPEC meetings will be held next Monday.

Currently, GBP/JPY is testing to break below the key level of 139. Its next support zone is at 137.500 and the next resistance zone is at 140.000.

Look for short-term buying opportunities of GBP/JPY if it bounces up from the key level of 139.

EUR/JPY Outlook (27 November 2020)

Overall, EUR/JPY is ranging across. Recently, EUR/JPY bounced off the resistance zone of 124.750.

The French preliminary CPI and GDP data will be released later at 1545 (SGT).

- French Preliminary CPI m/m (Forecast: 0.0%, Previous: 0.0% revised from -0.1%)

- French Preliminary GDP q/q (Forecast: 18.2%, Previous: 18.2%)

OPEC meetings will be held next Monday.

Currently, EUR/JPY is bouncing up from the key level of 124. Its next support zone is at 122.600 and the next resistance zone is at 124.750.

Look for short-term buying opportunities of EUR/JPY.