![\"A](\"https:\/\/shared.gighl.com\/Morning_Pictures_2019\/November%202019\/2_11\/AUDUSD%20H4%2011042019%204_11.PNG\")
<\/p>\nAustralia\u2019s retails sales growth rate release showed a surprise slowdown, confusing Aussie traders somewhat during today\u2019s Asian session. Albeit there was little reaction to the release, Aussie traders are now looking towards RBA\u2019s interest rate decision, which is due out tomorrow (03:30, GMT). The bank is widely expected to remain on hold at +0.75%, and currently AUDOIS imply a probability of 94.10% for the bank to do so. Should the bank remain on hold as expected, we could see the markets turning their attention towards the accompanying statement, at which the bank could be maintaining a dovish tone, should global trade uncertainty worries outweigh other factors and weakening the AUD. Should the bank surprise the markets by adopting a more neutral tone, due to Aussie financial releases we could see the AUD getting some support. AUD\/USD continued to rise on Friday and during today\u2019s Asian session, testing the 0.6925 (R1) resistance line. Technically, for our bullish outlook for the pair to change we would require a clear breaking of the upward trendline incepted since the 28th of October. However please note that the 0.6925 (R1) proved to be a formidable resistance line and the pair\u2019s price action seems to be forming an ascending triangle. Should the bulls maintain control over the pair\u2019s direction, we could see the pair breaking the 0.6925 (R1) resistance line and aim for the 0.6925 (R2) resistance level. Should the pair\u2019s price action be controlled by the bears, we could see the pair, breaking the prementioned upward trendline and aim if not break the 0.6860 (S1) support line, aiming for lower grounds.<\/p>\n
Christine Lagarde is to deliver her first speech as president of the ECB and is expected to stick to her easy policy script as left by Mario Draghi. The new ECB President may have to mend torn relationships in a split ECB as at the same time the bank\u2019s QE program restarts. Across the Atlantic, the USD remained unimpressed as the NFP figure scored higher than expected on Friday, while Fed\u2019s Vice Chair Clarida stated that the economy is quite resilient. We could see the common currency also remaining data dependent in the next few days, especially at German industrial data. EUR\/USD maintained a sideways motion on Friday and today, hovering mostly above the 1.1150 (S1) support line. We maintain a bias towards a sideways motion for the pair albeit financial releases and Christine Lagarde\u2019s speech could provide volatility for the pair. Should EUR\/USD come under the selling interest of the market, we could see it breaking the 1.1150 (S1) support line and aim for the 1.1105 (S2) support level. On the other hand, should the pair\u2019s long positions be favored by the market, we could see the pair, breaking the 1.1200 (R1) resistance line and aim for the 1.1250 (R2) resistance level.<\/p>\n
Today during the European session, we get Turkey\u2019s CPI rate, Germany\u2019s final Manufacturing PMI and UK\u2019s construction PMI all for October, as well as Eurozone\u2019s Sentix investor sentiment for November. In the American session, we get the US factory orders growth rate for September and in tomorrow\u2019s Asian session China\u2019s Caixin Services PMI for October.<\/p>\n
On Tuesday, we get UK\u2019s Services PMI for October, the US trade balance for September, the ISM non Mfg PMI for October and New Zealand\u2019s employment data for Q3. On Wednesday, we get Germany\u2019s industrial orders growth rate for September. On Thursday, Australia\u2019s trade balance for September, Germany\u2019s industrial output for September and from the UK BoE\u2019s interest rate decision are due out. On Friday, we get the China\u2019s trade data for October, Canada\u2019s employment data for October and the US Michigan Consumer Sentiment for November. On Saturday, we get China\u2019s inflation measures for October.<\/p>\n
AUD\/USD 4 Hour<\/b><\/p>\n
<\/p>\n
Support: 0.6860 (S1), 0.6800 (S2), 0.6740 (S3)
\nResistance: 0.6925 (R1), 0.6985 (R2), 0.7050 (R3)<\/b><\/p>\n
EUR\/USD 4 Hour<\/b><\/p>\n
![\"A](\"https:\/\/shared.gighl.com\/Morning_Pictures_2019\/November%202019\/2_11\/EURUSD%20H4%2011042019%204_11.PNG\")
<\/p>\n
Support: 1.1150 (S1), 1.1105 (S2), 1.1050 (S3)
\nResistance: 1.1200 (R1), 1.1250 (R2), 1.1305 (R3)<\/b><\/p>\n
![\"A](\"https:\/\/shared.gighl.com\/Morning_Pictures_2019\/November%202019\/2_11\/Benchmark%204_11.PNG\")
<\/p>\n
![\"A](\"https:\/\/shared.gighl.com\/Morning_Pictures_2019\/November%202019\/2_11\/Table%204_11.PNG\")
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Australia\u2019s retails sales growth rate release showed a surprise slowdown, confusing Aussie traders somewhat during today\u2019s Asian session. Albeit there<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_daim_seo_power":"","_daim_enable_ail":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-13701","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"\n