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Aussie Currencies Technicals

The bounce from recent 5+ year lows has so far stalled ahead of the 21-DMA with

Markets are active into the NA open; oil prices have dropped to fresh lows (WTI is below $50),

While the Euro didn’t forge fresh record short positions in the latest report,

The Swiss remains in a down draft posture but fundamentals would seem to remain in the bear’s camp.

As we suggested yesterday, the Yen was poised to benefit from revived safe haven anxiety,

Not surprisingly, the Non-reportable Net Long position in the Dollar has hit a new record level at 14,674 contracts.

The Canadian Dollar has become tightly linked with the action in crude oil.

As in the rest of the non-Dollar currencies, the overnight fundamental news

Forint falls to three-year low on low PMI

USD/JPY: USD/JPY and yen crosses has been steadily heading lower,

EUR/USD is trying to bounce near the key support at 1.1877 (07/06/2010 low).

US ISM non-manufacturing is expected to surprise on the downside today