Selloff in Euro remains the main theme in slow markets today. Return of risk appetite is also weighing down Dollar and Yen. On the other hand, commodity currencies are generally strong, with Aussie having an upper hand over Kiwi and Loonie. Sterling is mixed for now, partly supported by buying against European majors. While stocks are rebounding, major indexes are staying in familiar range. Traders would like to wait for tomorrow’s US NFP before taking a committed stance.

Technically, as EUR/AUD is breaking away from 1.5898 structural support cleanly, we’d also keep an eye on 0.7315 minor resistance in AUD/USD. Firm break there will argue that the pull back from 0.7477 has completed and further rise could be seen through this resistance to resume the whole rebound from 0.7105. AUD/JPY appears to be building a base for further rise with help from 4 hour 55 EMA. Break of 82.01 resistance will resume the rebound from 77.88.



In Europe, at the time of writing, FTSE is up 1.20%. DAX is up 1.45%. CAC is up 1.63%. Germany 10-year yield is down -0.0016 at -0.191. Earlier in Asia, Nikkei rose 0.54%. Hong Kong HSI rose 3.07%. Singapore Strait Times rose 0.56%. 10 year JGB yield dropped -0.0071 to 0.078.

source_actionforex.com