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FX Daily Majors

Today’s highlights: EURUSD is still vulnerable to further corrective strength, but we ideally look for “neckline” resistance at 1.3503/13 to cap.

EURUSD: Could still recheck the high 1.34s. European (Markit) PMI and the US ISM are the main distractions for the day.

AUDUSD rose to 0.9327, but most of this came ahead of the RBA statement.

The PMI for the private service sector surged in July to 60.1, the highest level since April 2011.

Bouncing off major daily support in what could be wave-D of a larger triangle consolidation.

Failed to sustain a move above 102.80/103.09 pivot highs; the channel from May acted as resistance and put the breaks on the rally.

Gold managed the first close below the 200-DMA last week since the sharp move higher mid-June with

German bond yields edged marginally higher yesterday in a narrow trading range, while US yields closed the day a bit lower.

Euro retail sales are expected to have increased 0.5% m/m in June. Consumerconfidence,

Aussie started this morning at $0.9334 after a US range of $0.9312 to $0.9337 overnight.

Rallies continue to stall ahead of $1.3445 with bulls needing a close above to confirm an easing of bearish pressure and

The decision to leave the cash rate unchanged at 2½% at the August RBA Board meeting was universally expected.