NZD/USD struggles to preserve its modest intraday gains, though the downside remains limited. The risk-on impulse prompts some USD profit-taking and lends support to the risk-sensitive Kiwi. The lack of follow-through buying warrants some caution before positioning for any further gains. (FXStreet) 

AUD/USD is extending the rebound toward 0.6500 on strong Chinese data and policy support measures. USD/CAD is struggling near 1.3500 amid a pause in the oil price rally and a broad US Dollar retreat. WTI is trading close to the multi-month high of $90.56, at the time of writing. (FXStreet)

EUR/USD is building on the rebound from six-month lows reached at 1.0633 on Thursday. The European Central Bank (ECB) hiked the key rates by 25 basis points (bps) but signaled that it could be the last hike amid downward revisions to the central bank’s growth and inflation forecasts. (FXStreet)

USD/JPY holds ground near 147.50, gaining 0.02% on the day. The upbeat US data on Thursday indicate that the US economy remains resilient and inflation rebounded in August. BoJ said a pivot would not be considered if wage and inflation data do not reach its forecast. (FXStreet)

USD/CAD attracts some sellers and trades in negative territory for the sixth consecutive day on Friday. The pair holds below the 50- and 100-hour EMAs; the Relative Strength Index (RSI) stands below 50. The immediate resistance level for the pair is seen at 1.3530; the 1.3490 acts as an initial support level. (FXStreet)

GBP/USD gains some positive traction and moves away from a multi-month low set on Thursday. A combination of factors prompts some USD profit-taking, which, in turn, lends support to the pair. Diminishing odds for more aggressive BoE rate hikes might keep a lid on further gains for the GBP. (FXStreet)

USD/MXN remains depressed near a one-and-half-week low touched on Thursday. Some follow-through selling below the 50-day SMA will confirm a fresh breakdown. Attempted recovery might now confront resistance near the 17.20-17.25 confluence. (FXStreet)

AUD/JPY trades in positive territory for the sixth straight day on Friday. Relative Strength Index (RSI) holds above 50 in the bullish territory. The immediate resistance level emerges at 95.78; the initial support level is located at 94.23. (FXStreet)

USD/INR is seen consolidating in a narrow band just above the 83.00 mark. The technical setup favours bulls and supports prospects for additional gains. Any meaningful corrective slide is likely to get bought into and remain limited. (FXStreet)

EUR/JPY gains traction around 157.40 amid the Euro demand. The cross holds below the 50- and 100-hour EMAs; the Relative Strength Index (RSI) stands above 50, within bullish territory. The immediate resistance level is located at 157.50; the initial support level is seen at 156.63. (FXStreet)

USD/CNH retraces the previous day’s gains on China’s positive economic data. PBoC has reduced the Reserve Requirement Ratio by 25 bps. US Dollar (USD) is trading near its six-month high after the US positive economic data. (FXStreet)

EUR/GBP experiences downward pressure despite a 25 bps rate hike by the ECB. ECB indicates the current rate hike cycle to reach its peak, dampening the Euro. UK's economy struggles between the BoE’s hawkish stance and the weakening demand environment. (FXStreet)

EUR/CHF: Retail trader data shows 85.65% of traders are net-long with the ratio of traders long to short at 5.97 to 1. Our data shows traders are now at their most net-long EUR/CHF since Sep 05 when EUR/CHF traded near 0.95. The number of traders net-long is 6.02% higher than yesterday and 1.65% higher from last week, while the number of traders net-short is 38.61% lower than yesterday and 18.42% lower from last week. (DailyFX)

Daily USD/ZAR price action above has now pushed up towards the 19.0000 psychological handle coinciding with trendline resistance. Next week’s Fed rate decision and South African inflation could be the catalyst that gives traders some directional bias moving forward. Currently, as reflective via the Relative Strength Index (RSI), markets favor neither bullish nor bearish momentum, underlying their indecision. (DailyFX)

WTI prices rise to the YTD high and hold above the $90 mark for the first time since November 2022. IEA said the loss of OPEC+ output would cause a major supply shortfall during the fourth quarter beginning in September. China's economic challenges remain in the spotlight. Oil traders will closely watch the Chinese data including Retail Sales and Industrial Production. (FXStreet)

Gold price strengthens after China’s positive data and fresh fiscal stimulus. US Dollar (USD) has pulled back from its six-month high; contributing support for the yellow metal. Enhanced US bond yields could offer support in constraining the correction of the US Dollar (USD). (FXStreet)

Silver gains strong positive traction and moves away from a one-month low touched on Thursday. Technical indicators on the daily chart warrant some caution before placing aggressive bullish bets. A sustained strength beyond the $23.20 area is needed to support prospects for additional gains. (FXStreet)

Source: FXStreet

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