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CNY Fixing - Slightly Firmer Bias

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FOREX
FOREX: Euro-Asia crosses have traded in lackluster fashion today as range
trading looks likely in the near term. The failure of EURCNH to mount the 8.0
level yet again yesterday is a blow to bulls and suggests significant overhead
resistance. Bears need to break back below the 21-dma at 7.9305 to give them
some breathing room and look to carve out a topping pattern.
- EURKRW trades at 1306.6 as the uptrend from the mid-August lows remains intact
but lacks impulse, keeping the outlook neutral. 
- Bears continue to defend the 130 level in EURJPY keeping the outlook neutral
for now, with the pair trading at 129.27.
- EURAUD remains within its recent sharp uptrend, trading at 1.6313 as AUDUSD
struggles to cling onto the 0.71 level. While this move has been in part driven
by the narrowing of yield spreads between Aussie and German yields, in real
terms the widening trend remains intact suggesting continued EUR outperformance
faces risks. 

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