Dollar Recovering Mildly after Selloff, Aussie and Kiwi Strong
Action Insight Daily Report 8-11-22

Dollar Recovering Mildly after Selloff, Aussie and Kiwi Strong

After yesterday's selloff, Dollar is recovering slightly in Asian session today. But the greenback remains the worst performing one for the week. New Zealand and Australian Dollars are taking most advantage for now, helped by risk-on sentiment. But Swiss Franc and Yen are also strong on falling major benchmark yields. Euro and Sterling are on the softer side, even though they still outperform Dollar.

Technically, while Dollar is under broad-based pressure, the weakness in Euro is also worth a mention. EUR/CHF is on the verge on breaking through 0.9697 low to resume long term down trend. Meanwhile, EUR/AUD is also eyeing a break of 1.4508 to resume the near term fall from 1.5396 towards 1.4318 low. Break of these levels could cap Euro's rally against Dollar.

In Asia, Japan is on holiday. Hong Kong HSI is up 1.83%. China Shanghai SSE is up 1.25%. Singapore Strait Times is up 0.46%. Overnight, DOW rose 1.63%. S&P 500 rose 2.13%. NASDAQ rose 2.89%. 10-year yield dropped -0.011 to 2.786.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

AUD/USD Daily Report

Daily Pivots: (S1) 0.6983; (P) 0.7046; (R1) 0.7145; More...

AUD/USD's rally from 0.6680 is still in progress and met 61.8% projection of 0.6680 to 0.7045 from 0.6868 at 0.7094. Intraday bias stays on the upside, and firm break of 0.7094 will target 100% projection at 0.7233. On the downside, below 0.7008 minor support will turn intraday bias neutral first. But further rally will remain in favor as long as 0.6868 support holds, in case of retreat.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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