Another day, another stall ahead of key levels in EUR/USD at 1.5061, AUD at 0.9325 and USD/CHF at 1.0030. Prices backed and filled for most of the US session with EUR/USD diping to the 1.4940 level after weak stops were triggered on a push below 1.4950 which had contained dips for much of the session. Key support is down at 1.4915/20 (repeated highs last week) with stop-loss sell orders seen clustered around the 1.4900/10 area.

Cable was the only volatile pair to speak of today, as the pair recouped most of the losses seen overnight after Fitch warned on the UK’s AAA rating. 1.6750, from where cable began its plunge, is now providing resistance.

AUD/USD slipped intraday to the 0.9260 area before slowly edging higher for much of the afternoon. Markets were spooked this morning by a Bloomberg article suggesting that China may have to turn around and sell some of the refined copper it has horded helped spark some profit-taking during US trade but the fears faded as the session wore one.

Fed speakers did little to suggest the status quo is set to change. An extended period of low rates is still anticipated, though perma-dove Janet Yellen raised some eyebrows by suggesting the Fed needs to watch for bubbly asst markets.