Easy-Forex Daily Outlook
The Australian Dollar (AUD): The pair opened in NY session around 0.9345, 25-30 pips vs last night's close. Sydney traders noted strong demand for AUD/JPY which drove the pair up high but a large offer ahead of 94 cents capped the rally. Better than expected U.S data, had the AUD dragged down to 0.9322. AUD/USD weakness was a bit of a surprise as US equities reversed early losses, head to the close +0.06/0.31% and given recent bias, AUD/USD a prime "buy dips" candidate.
The AUD: More bids staggered down from 0.9310 to 0.9245 but technical point noted bounce off underside of weekly cloud last week initimates weakness. For now, Current support of 0.9290-0.9310 havn't been tested yet, a break below there will lead more bears jump in.
EUR/USD: EUR finished up the Noram sessione ssentially at the same price as the day before (1.3815), complteing a round trip to a high of 1.3865. With better U.S data and more Euro QE program, bears were only able to do some scratches on the EUR.
USD/JPY: The pair got past the 38.2% of the April range that capped prices at 102.38. The pair was already above 102 and rising into the NY open after the o/n slide to the 100-HMA, partly inspired by Yellen's dovishness late Wed and the confirmed Japanese govt downgrading of its economic assessment for the first time since 2012. The daily cloud is at 102.48, while the cloud top at 103.10 is by the 61.8% of the April range and key resistance.
Looking Ahead - Economic Data (GMT)
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Looking Ahead - Events, Other Releases (GMT)
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