Not much going on this morning which suggests that there are no orders close by, especially of the stop-loss variety.

  • A mixed bag in USD/JPY with strong buying interest starting at 94.25 down to 93.75 but this is mixed in with a lot of stops so dealers favour a move lower first, if indeed any move at all eventuates. Selling interest remains solid towards 96.00.
  • 1.4450 continues to cap the EUR/USD and 1.4500 should also prove to be a significant obstacle. There’s a mixture of bids and stops on the downside until the 1.4225 level when the bids start to take over again.
  • EUR/GBP continues to drift lower despite quite heavy buying out of the Middle East. More bids are noted at .8450 and 25.
  • AUD/USD as noted earlier, solid interest either side of .8350/.8500 should ensure further consolidation.