Forex Market
Asian Currencies Technicals
AUD/USD: Dips back towards key support. AUD/USD has dipped back towards the Sept 12 lows with a close below needed to relieve topside pressure and risk a retest of the Sept monthly lows at $1.0165.
FX Market Analysis
EUR: Opened early Europe at $1.3129, Euro-dollar closed Friday in NY at $1.3130, having seen extended post FOMC react highs of $1.$1.31691, pulling back to challenge the $1.3100 area before recovering into the close.
Technical Analysis
Only limited moves since Friday close. Perhaps time to catch the breath after the past two weeks returning risk appetite.
FX Market Technical Research
EUR/USD: Long Term Falling Trend Line Capping. The move towards 2012 highs continues with EUR/USD pausing ahead of the long term falling daily trend line off 2011 highs from May 4 coming in around $1.3180 to start the week.
EUR/USD Analysis
Closed Friday in NY at $1.3130, having seen extended post FOMC react highs of $1.$1.31691, pulling back to challenge the $1.3100 area before recovering into the close.
Asia Today: Risk rally stalls; US to fight China on auto subsidy
Asia kept risk and related currencies at their post-FOMC highs in the early stages of the day as a Tokyo holiday reduced both liquidity and activity.
Asian Currencies Technicals
AUD/USD: Spikes above upper Bolli to continue. The pair remained capped ahead of the Mar 19 highs to end last week, closing back below the now rising 21 day upper Bollinger band ($1.0582).
Americas FX Daily
USD weakens broadly post FOMC What happened overnight – Euro zone core CPI moderates – Sweden Q2 GDP revised lower
FX Daily Strategist: US
-Fed delivers QE, further USD weakness is in scope The USD continues has continued to sell-off on Friday as the market reacts to the Fed’s delivery of open-ended QE and commitment to balance sheet expansion until the labour market improves substantially.
FX Daily Crosses
Today’s highlights: – EUR/GBP: Our bias stays higher through neckline resistance at .8050 to test the .8096 barrier next. We expect major resistance at .8126/57 to provide a ceiling.
FX Market Analysis
GBP: Opened early Europe at $1.6200, stg0.8041, Cable closed in NY at $1.6152 after the post FOMC rally took rate to $1.6174 before it pulled back to $1.6138.
FX Daily Majors
Today’s highlights: – EURUSD: Break through 1.2975/95 now exposes the 78.6% Fibonacci extension resistance hurdle of 1.3178. Corrections likely to hold above 1.2858.