As the end of the first quarter looms large, we continue to see background evidence of profit taking across asset classes. At the end of a busy week we are looking for more signs to post today. The AUD looks most vulnerable to recent commodity price weakness with AUD/JPY looking almost certain to post a bearish divergence signal today on weekly charts and possibly a Reversal Week (RW) as well. EM currencies are drifting lower as risk rolls over and EUR/CZK could also post a RW today.
Read the full report: FX Daily Majors
Barclays Capital