Australian Dollar Moves Lower: Analysis For USD/JPY, EUR/USD, AUD/USD, NZD/USD

USD/JPY Pulls Back From Recent Highs

USD/JPY pulled back from recent highs as traders reacted to the final reading of Services PMI report from Japan. The report indicated that Services PMI declined from 53.7 in August to 53.1 in September, compared to analyst consensus of 53.9. Numbers above 50 show expansion.

USD/JPY needs to stay above the resistance at 146.00 – 146.50 to have a chance to gain additional upside momentum in the near term. In case USD/JPY settles above the 146.50 level, it will move towards the next resistance level at 149.50 – 150.00.

EUR/USD Remains Under Pressure Ahead Of Services PMI Report

EUR/USD remains under pressure as traders prepare for the release of the final reading of the Euro Area Services PMI report. The report is expected to show that Services PMI declined from 52.9 in August to 50.5 in September.

It should be noted that RSI is in the moderate territory, so there is plenty of room to gain additional downside momentum.

AUD/USD Pulls Back As Services PMI Misses Expectations

AUD/USD retreats as traders focus on the weaker-than-expected Services PMI report from Australia. The report showed that Services PMI decreased from 52.5 in August to 50.5 in September, compared to analyst forecast to 50.6.

In case AUD/USD declines below the 0.6850 level, it will head towards the nearest support, which is located in the 0.6815 – 0.6825 range. On the upside, AUD/USD needs to climb back above the 0.6900 level to gain sustainable upside momentum.

NZD/USD Retreats Amid Falling Demand For Commodity-Related Currencies

NZD/USD tests support at 0.6235 – 0.6250 as demand for commodity-related currencies declines amid pullback in precious metals markets.

If NZD/USD settles below the 0.6235 level, it will head towards the next support level at 0.6140 – 0.6150.