Dollar and Yen rebound notably today as consolidative trading continues, with help from mixed sentiments. European indices are mixed while US futures point to lower open. Major global trading yields are trading lower, with US 10-year yield below 1.6 handle. New Zealand Dollar is leading Australian Dollar lower, followed by Sterling.

Technically, we’d maintain the current recoveries in Dollar and Yen are just part of consolidations, rather than reversal. Indeed, we’ll keep an eye on 1.2075 minor resistance in EUR/USD. Break will suggest that pull back in EUR/USD, and recovery in Dollar, has completed.

In Europe, at the time of writing, FTSE is up 0.06%. DAX is down -1.50%. CAC is down -0.46%. Germany 10-year yield is down -0.0297 at -0.230. Earlier in Asia, Hong Kong HSI rose 0.70%. Singapore Strait Times dropped -0.18%. Japan and China were on holiday.

Source: www.actionforex.com