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Narrow Ranges In Asia

FOREX

There have been narrow ranges across G-10 FX in Asia today with little follow through on moves. In a data light session there was little meaningful macro newflow. WTI briefly dipped below the $77 handle, and US Tsy Yields were a touch higher.

  • AUD/USD is a touch firmer however a narrow $0.6425/40 range has persisted for the most part. Despite yesterday's fall the short term bull cycle remains in play. Resistance comes in at $0.6523, Nov 6 high and key resistance. Support is at $0.6388 the 20-Day EMA.
  • Kiwi is also marginally higher. There was little reaction to RBNZ's Q4 Inflation Expectations ticking lower to 2.76% from 2.83%.
  • Yen is consolidating above the ¥150 handle. The latest pullback in USDJPY appears to be corrective. Resistance comes in at ¥151.72, Oct 31 high. Support is at ¥149.21 the low from 3 Nov.
  • Elsewhere in G-10 there have been little moves of note, BBDXY is unchanged from opening levels.
  • Eurozone Retail Sales and the final read of German CPI headline in Europe today.
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