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Kiwi Kept In Check Despite Risk-On Impulse


(Z1) Strong Weekly Close

AUSSIE-YEN: Risk aversion battered AUD/JPY yesterday. The rate continued to ebb
lower this morning, but has trimmed losses as U.S. equity index futures have
turned green. The rate sits at Y72.99, 27 pips worse off.
- Bears look to a fall below the 200-DMA at Y72.27 and a break here wold bring
trendline support at Y71.00 into play. Meanwhile, bulls welcome the recent
50-/100-DMA bullish cross as they target Jun 10 high of Y75.61, followed by the
key Jun 8 high of Y76.79.
- Final Japanese industrial output data headlines the regional docket today,
with no data releases scheduled in Australia.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |