EUR/USD dips below 1.1000 psychological mark
Extending its downward trajectory for the fourth straight session, the EUR/USD pair has now dropped below 1.1000 psychological mark.Currently trading at nearly three-month low level of 1.0990, the pair came under renewed selling pressure as the greenback, as measured by the overall US Dollar Index, continues to gain traction after Wednesday's release of FOMC minutes reaffirmed market expectations of an eventual Fed rate hike move before the end of this year.With a relatively lighter economic docket, Thursday's downslide could be attributed to the prevalent bullish sentiment surrounding the greenback. Later during NA session, US weekly jobless claims data will be looked upon for short-term trading opportunities ahead of Friday's key release of monthly retail sales from the US.From technical perspective, weakness below 200-day SMA, and a subsequent break below 1.1125-20 horizontal support, had confirmed a break-down below a short-term descending triangular formation on daily chart and has eventually led to the pair's latest leg of downslide since the beginning of this week.From current levels, the downslide is likely to get extended towards 1.0970-60 horizontal support below which the pair might turn vulnerable to extend its depreciating move further towards Brexit swing lows support near 1.0910-1.0900 area. On the upside, recovery back above 1.1000 mark, leading a momentum above 1.1015 resistance, is likely to lift the pair beyond session high resistance near 1.1035 region towards its next resistance near 1.1050-55 region.

GBP/USD a test of 1.2625 is not ruled out Commerzbank
According to technicals, Cable could attempt a test of 1.2625 in the next weeks, suggested Senior Technical Analyst at Commerzbank Axel Rudolph.?Last week GBP/USD has seen a massive spike lower to reach the 1.1938 level (according to our charting software CQG). The currency pair briefly dipped to 1.2090 on October 11 (according to CQG) but it should continue to oscillate between this level and the 1.2500 mark?.?We also have a time zone gap back to 1.2639 (this is the gap between where London left the market on Thursday and when it traded the following morning). We would allow for this to be partially filled and note the Elliott wave count is suggesting a rally to 1.2625 in the course of the weeks ahead?.?We have a resistance line at 1.2939 and will consider that the market remains directly offered below the 1.3056 late September high. Below 1.1938 we would target the 1.0463 1985 low?.

USD/CAD attempting a fresh break-out above 1.3300 handle
Having posted a session high at 1.3307, the USD/CAD pair trimmed some of early gains and has now retraced back below 1.3300 handle during early European session.Currently trading around 1.3285-90 band, still positive for the third straight session, a broad based greenback pull-back has been a key factor contributing to the pair's retracement from weekly highs. Meanwhile, weakness in oil prices, with WTI crude oil dropping back below $50.00/barrel mark, limited any sharp slide as weaker oil prices tends to weigh on the commodity linked currency loonie. On Wednesday, the pair reversed all of its early losses and rebounded from the proximity of the very important 200-day SMA, confirming near-term break out and opening room for further near-term appreciating move.Later during NA trading session, the release of US weekly jobless claims data would be looked upon for short-term momentum play, while the official EIA report on weekly US crude oil inventories would provide fresh impetus for oil prices and eventually drive the USD/CAD pair during US trading session. From current levels, weakness below 1.3275 is likely to get extended towards session low support near 1.3260 level, which if broken is likely to drag the pair towards 1.3225 support. On the upside, momentum above 1.3300 handle is likely to confront resistance at 1.3315-20 region above which a fresh leg of up-move is likely to lift the pair immediately towards mid-March highs resistance near 1.3350-60 area.

USD/JPY remains bullish, now eyes 105.00 - UOB
In view of the research team at UOB Group, USD/JPY keeps the positive stance intact and could now test the 105.00 area.?Instead of trading sideways as expected, USD surged above the major 104.15/30 resistance to reach a high 104.48. The rally appears to have scope to extend further but at this stage, a clear break above 105.00 seems unlikely. Support is at 104.10 but only a move below 103.80 would indicate that the immediate upward pressure has eased?.?USD came back to life and we are pleasantly surprised by the sudden surge that exceeded the major 104.30 resistance. That said, we are still uncomfortable with the technical signals and those who are long (bullish phase started last week) should look to take at least partial profit at 105.00?.

AUD/USD breaks below 100-DMA support
The AUD/USD pair maintained its offered tone, led by disappointing Chinese trade balance data, and has now dropped to a fresh session low. Currently trading below 100-day SMA, at fresh session low around 0.7520 region, the pair dropped to nearly one month low after Chinese trade surplus for the month of September fell more-than-expected. Being Australia's biggest trading partner, weaker Chinese economic data tends to weigh on the Australian Dollar. Moreover, market expectations of an eventual Fed rate-hike action by the end of this year was reaffirmed by Wednesday's release of FOMC meeting minutes and is exerting further selling pressure around higher yielding currencies like the Aussie. Adding to this, the prevalent risk-off sentiment is driving investors towards the perceived safety of the US Dollar and restricting any recovery for the major. Next of relevance would be weekly jobless claims data from the US, due later during NA session, and would be looked upon for short-term trading opportunities. A follow through selling pressure below 100-day SMA seems to accelerate the slide immediately towards 0.7500 psychological mark, which if broken would turn the pair vulnerable to extend its downward trajectory towards 0.7450-40 support area marking the very important 200-day SMA region.On the flip side, any recovery attempt above 0.7535 immediate resistance is likely to confront strong resistance near 0.7560 region above which the pair is likely to stage a goodish recovery towards 50-day SMA major resistance near 0.7600 handle.

Gold recovery remains capped at 200-DMA
Gold trimmed some of the recovery gains closer to the very important 200-day SMA region but remained in positive territory for the second straight session. Currently trading around $1258 level, the prevalent risk-off sentiment across global equity markets, led by disappointing Chinese trade balance data, is seen boosting demand for traditional safe-haven assets, including gold. Weaker-than-expected release of Chinese trade surplus for the month of September renewed worries of an economic slowdown in the world's second largest economy and is weighing on investor sentiment. However, the recovery lacked momentum and remained capped at 200-day SMA as increasing odds of an eventual Fed rate-hike action continues to benefit the greenback and is restricting any swift recovery for the non-yielding yellow metal.Today's release of weekly jobless claims from the US might provide some impetus, while the broader trend would continue to be dependent on the prevalent investor risk-sentiment and US Dollar price dynamics.Immediate upside resistance is pegged at 200-day SMA near $1262 region, which if cleared decisively is likely to lift the metal beyond $1265 horizontal resistance towards its next major hurdle near $1275-77 zone.On the downside, immediate support is seen at $1252-50 region below which the commodity is likely to head back towards multi-month lows support near $1241-40 area before dropping to $1235 horizontal support.

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