The USD/CAD pair is advancing 0.12% at 1.3531 facing the next hurdle at 1.3657 (100-day sma) ahead of 1.3758 (20-day sma) and then 1.3861 (high Feb.24). On the other hand, a breakdown of 1.3280 (200-day sma) would expose 1.3034 (low Nov.3 2015) and finally 1.2827 (low Oct.15 2015).
The Brent Oil immediate resistance is seen at 36.14 (Jan 29 high), above which the prices could test 36.96 (Feb 26 high). On the other hand, a breakdown of immediate support at 35.17 (hourly 50-MA) would open doors for a drop to 33.56 (50-DMA).
The AUD/USD pair is up 0.27% at 0.7150 facing the next hurdle at 0.7246 (high Feb.4) followed by 0.7258 (200-day sma) and then 0.7388 (monthly high Dec.4 2015). On the flip side, a break below 0.7000 (psychological level) would aim for 0.6971 (low Feb.9) and finally 0.6916 (low Jan.26).
The EUR/USD pair is now losing 0.41% at 1.0891 and a break below 1.0867 (76.4% Fibo of December up-move) would target 1.0777 (low Jan.21) en route to 1.0709 (2016 low Jan.5). On the other hand, the next hurdle aligns at 1.0971 (55-day sma) ahead of 1.1048 (200-day sma) and then 1.1123 (38.2% Fibo of December up-move).
The GBP/USD pair has an immediate resistance at 1.3896/1.3900 (5-DMA/ round number), above which 1.3927/56 (1h 50-SMA/ 1h 100-SMA) would be tested. On the flip side, support is seen at 1.3800-1.3750 (March 2009 levels).
The Gold has an immediate resistance at 1239.10 (Feb 26 High) and 1250 (psychological levels). Meanwhile, the support stands at 1223/22 (1h 200-SMA/ 200-DMA) below which doors could open for 1218.60 (20-DMA).
Gold trades 1.18% higher at 1234.80, retreating slightly from fresh session highs printed at 1236.10 some minutes ago. The precious metal jumped nearly $ 4 after the Chinese central bank slashed the RRR by 0.5% in a bid to stimulate economic growth, which would in turn lift the demand for the bullion. China is the world’s largest gold consumer.
Focus now shifts towards the US economic data ahead of the crucial Chinese manufacturing PMI reports due tomorrow.