Yesterday, OPEC announced its first oil output cut since 2008 (to 32.5 million barrels per day from the current level of 33.6 million), which supported the price of crude oil and pushed the commodity-depended Canadian dollar higher against its U.S. counterpart. How did this price action affect the technical picture of USD/CAD?

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Earlier today, official data showed that Australian building approvals dropped by 12.6%, missing expectations of a 1.5% gain. Additionally, private sector credit declined 3.4%, compared to a gain seen in the previous month. Thanks to these disappointing numbers, the Australian dollar moved lower against its U.S. counterpart. What impact did this move have on the technical picture of AUD/USD?

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Earlier today, the USD Index extended gains after the release of upbeat U.S. economic growth data. As a result, USD/CAD invalidated yesterday’s breakdown under support line. Will we see further rally in the coming days?

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Although the British pound moved higher against the greenback earlier today, currency bulls didn’t manage to hold gained levels, which resulted in a pullback and invalidation of earlier breakout. What does it mean for the exchange rate?

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Although today’s official data showed that the U.K. GDP in the third quarter (a preliminary reading) increased in line with analysts’ forecasts, GBP/USD erased almost all earlier gains and remains at yesterday’s levels. What’s next for the exchange rate?

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