 Trading the the forex markets remain rather subdued in Asian session. Aussie basically shrugs off RBA's decision to taper, but extend QE. Dollar is trading slightly softer, as yesterday's recovery lost momentum. European majors are currently the slightly firmer ones. But overall, traders are staying in wait-and-see mode. Risk sentiment elsewhere is firm, however, with Nikkei extending the powerful rally, and 30k handle is just half-step away. Technically, the next move in Dollar would remain a major focus. EUR/USD will need to forcefully break through 1.1907 resistance to confirm near term bearish reversal in the greenback. However, rejection from there, followed by 1.1792 minor support will argue that EUR/USD's rebound from 1.1663 has completed, and revive Dollar buying. At the same time, we will apply slightly tighter condition for Gold, a break of 1804.07 support will suggest rejection by 1832.47 resistance, at least on first attempt. Deeper pull back could be seen back and that, if happens, could come with a stronger rebound in Dollar. In Asia, at the time of writing, Nikkei is up 0.91% at 29928. Hong Kong HSI is up 0.61%. China Shanghai SSE is up 0.77%. Singapore Strait Times is down -0.14%. Japan 10-year JGB yield is down -0.0079 at 0.037. |
