The markets are generally steady in Asian session. Dollar is paring some recent gains while Yen and Swiss Franc soften. Trading in Asia would likely be subdue for the next few days on Lunar New Year holidays. But volatility is anticipated in the week as a whole considering the massive amount of key events featured, including three central bank meetings as well ass heavy weight data like non-farm payrolls. Technically, AUD/USD is now trying to defend 0.7 handle, with 0.6991 key structural support. Sustained break there will argue that recent fall from 0.8006 is more of a medium term impulsive down trend then a corrective move. Selloff in AUD/USD could also be accompanied by a corresponding move in AUD/JPY. Break of 78.77 support will complete a head and shoulder top pattern (ls: 85.78, h: 86.24, rs: 84.27) which is also medium term bearish. The development will very much depend on what RBA is going to deliver tomorrow. In Asia, at the time of writing, Nikkei is up 1.27%. Hong Kong HSI is up 1.07%. China Shanghai SSE is down -0.97%. Singapore Strait Times is up 0.10%. Japan 10-year JGB yield is up 0.0106 at 0.179. | 