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Greenback Marginally Lower In Early Trade

FOREX

The greenback has ticked lower in early dealing, the Yen is leading the bid in the G-10 space however ranges remain narrow with little follow through on moves. There has been little in the way of meaningful macro news flow and the cross asset space is muted.

  • USD/JPY is down ~0.2%, last printing at ¥147.10/15. Support comes in at ¥146.23, low from Dec 4, and the bear cycle has resumed. Resistance is at ¥148.51, Nov 30 high.
  • AUD/USD is a touch firmer, however a narrow $0.6650/55 range has been observed. October Trade Balance crosses at the bottom of the hour. Technically the uptrend remains intact, Resistance is at $0.6623 the high from Dec 5. Support comes in at $0.6547, 20-Day EMA.
  • Kiwi is also marginally firmer. NZD/USD sits at $0.6140/45 and has ticked away from yesterday's NY lows this morning.
  • Elsewhere in G-10 there are no moves of note to report.
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