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JPY remains under pressure

FOREX
  • The Dollar remains on the back foot, despite showing flat against the CAD, EUR, CHF, AUD, SEK and NZD overnight, the Dollar falls lower on the European cash Govie open, with buying orders going through in Equities.
  • Expect some potential Gamma volatility in Equites today.
  • After a mixed early start, the USD is now back to flat against the GBP, CHF, EUR, NZD, CAD, and in the green against the Yen, up 0.51%, and NOK up 0.16%.
  • In terms of technical, resistance in EURUSD is at 1.0986 61.8% retracement of the Apr 26 - May 31 downleg, but only printed a 1.0962 high so far today.
  • Cable cleared the 1.2800 psychological level but failed to test the next resistance at 1.2849 0.618 proj of the Mar 8 - May 10 - May 25 price swing, printed a 1.2818 high.
  • For the AUDUSD, the 0.6900 figure held, and printed a 0.6900 high so far today.
  • Above the latter, would see of 0.6921 High Feb 20.
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