Risk assets came under pressure yesterday. US equities broke down through recent range lows and hard assets such as copper and aluminium posted bearish days, with the “shooting star” in aluminium suggesting a top. This in turn has prompted profit taking in AUD/USD and the AUD crosses. Paradoxically JPY was sold off and is testing important upside levels. Profit taking was also seen in EUR/USD and EUR/GBP against the underlying trends for EUR weakness.
Click here to read the full report: Technical Research
Barclays Capital