Looks like we may have a quiet two hours or so with perhaps a bit of a pick-up just before Wall Street closes for the day.
EUR/USD has been as high as 1.3034 this afternoon but we’ve now settled down and are consolidating a bit. 1.3050 remains an important level near-term, the 61.8% retracement of the 1.3334/1.2588 decline.
USD/JPY spent only a brief time below the 83.00 level after triggering stops as low as 82.92 in New York this morning. Even though Kan remains in power (and is seen as less likely to employ intervention than his rival Ozawa), traders are reluctant to set fresh shorts for fear of BOJ/MOF intervention…
AUD/USD has had an epic performance today, overcoming very strong resistance in the 0.9390/0.9410 area. That area should contain dips near-term while 0.9475 exotic options could attract price action in the sessions ahead unless the RBA snaps to attention.
Cable is near the top of recent ranges after rallying as high as 1.5588. 1.6000/20 is solid resistance and stops are surely perched just above those levels. It trades now at 1.5578 as it consolidates.
