After the EUR/USD pair reached highs at the 1.3640 zone late in last week's trading, it eventually fell in the sub-1.3600 level and has struggled to regain last week's levels in today's trading. So far, the pair has only managed to reach just under 1.3590 in today's trading, but has since slipped to 1.3575. This was due to the release of Europe's Sentix Investor Confidence for October which fell from the previous 6.5 to 6.1, instead of the expected improvement to 8.0.
The EUR/USD pair is currently trading at 1.3573, with initial resistance seen at 1.3594, followed by 1.3628. Meanwhile, initial support is at 1.3501, followed by 1.3467.
The continued lockdown in the US government and a sharp decline in the Nikkei index led to the drop in the USD/JPY in today's trading. Already the pair fell below the 97.00 support and continues to decline just above the 96.90 zone.
The USD/JPY pair is currently trading at 96.93, with initial resistance seen at 97.96, followed by 98.01. Meanwhile, initial support is at 97.21, followed by 96.96.
In Australia, the aussie is facing risks ahead of it as China's growth outlook has been lowered and its employment data are set to be released on Thursday.
Earlier today, the World Bank said in its East Asia Pacific Economic Update Report that China is expected to grow by 7.5% this year and 7.7% in 2014, which are much lower than previous growth estimates of 8.3% and 8%, respectively.
This report can have an impact on the Australian economy, as the two are close trading partners.
Aside from the Chinese economy, Australia also has to deal with the upcoming employment data coming on Thursday. The country's unemployment rate has been on the rise since the beginning of this year, although analysts expect it to remain at 5.8% for September.
Although it has dropped below last week's high at above 0.9450, the AUD/USD pair is still trading at a healthy 0.9414 at the moment. Initial resistance for the pair is at 0.9484, followed by 0.9508. Meanwhile, initial support is at 0.9412, followed by 0.9388.
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