In the west, the S&P 500 is inching towards its all-time high, but in the east, geopolitical tensions remain a focus, with USD/KRW trading close to its multi-year channel high. At this time, these significant topside areas are capping price as the market pauses. Among commodity currencies, AUD/USD is edging towards the top of a narrowing range that has been in place since 2011. A decisive move beyond the highlighted range extremes would likely trigger further gains, and as such, we are monitoring these range extremes in the three charts shown in the “Daily Focus”.
Click here to read the full report: Technical Research
Barclays