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EUR/USD Analysis

The pair started this morning’s session at $1.3391 and made early advances toward last Friday’s US high of $1.3401.

The pair closed in NY Friday at $1.6693 after rate had, for the most part, been capped by $1.6700 (high $1.6702),

Following the failure to confirm an easing of bearish pressure Thursday,

The pair opened at Y102.33 this morning, just about where it had ended on Friday, at Y102.36.

Leveraged funds’ net long USD positioning stayed relatively unchanged after the previous week’s sharp increase,

The local data are already underway in the shape of this morning’s Performance of Services Index (PSI).

NAB Business Survey improves further in July. Business conditions not only held up in July,

The services sector showed an upswing in expansion during July, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

Last week we released our latest Quarterly EconomicOutlook. If you haven’t seen it already, it’s well worth aread.

Losses following closes below both 100 & 55-DMAs continued Friday with the USD/SGD closing below the 21-DMA.

The NZD/USD traded a tight range on Friday, to end theweek only slightly lower, just below 0.8490.

AUD/USD continues to work its way towards the 21 & 100-DMAs in the $0.9341-42 region with initial support remaining at $0.9288.