Dollar was sold off broadly overnight, following risk-on sentiments. Investors appeared to welcome the results of US mid-term election so far. But the decline in the greenback is not too committed so far. Dollar is still holding on to near term support levels against European majors, and even Aussie. The skepticism about risk sentiment is also seen with softness in commodity currencies. For now, Sterling is slightly stronger than other European majors, which are together the strongest on for the week. Technically, USD/CAD's head and should top is taking shape with yesterday's fall. One focus is now on 0.6521 resistance in AUD/USD. Decisive break there will complete a head and should bottom pattern (ls: 0.6362; h: 0.6169; rs: 0.6271). Next target will be 100% projection of 0.6169 to 0.6521 from 0.6271 at 0.6623, and then 161.8% projection at 0.6841. In Asia, Nikkei dropped -0.56%. Hong Kong HSI is down -1.62%. China Shanghai SSE is down -0.53%. Singapore Strait Times is up 0.64%. Japan 10-year JGB yield is up 0.0016 at 0.254. Overnight, DOW rose 1.02%. S&P 500 rose 0.56%. NASDAQ rose 0.49%. 10-year yield dropped -0.0088 to 0.4126. |