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Narrow Ranges In Muted Asian Session

FOREX

The greenback has observed narrow ranges in a muted Asian session on Tuesday, moves have been limited with little follow through.

  • AUD/USD is ~0.1% firmer, dealing at $0.6435/40. The pair has observed a narrow range for the most part and sits a touch off session highs. Technically the latest bounce is considered corrective. Support comes in at $0.6357, low from Sep 6 and bear trigger. Resistance is at $0.6449, 20-Day EMA.
  • Kiwi is little changed, NZD/USD has consolidated yesterday's gains above the $0.59 handle in a narrow range today.
  • Yen is a touch pressured, however recent ranges remain intact. USD/JPY is ~0.1% firmer, last printing at ¥146.75/80. The trend condition remains bullish and any weakness is considered corrective. Resistance is at ¥147.87, high from Sep 7, and ¥148.40, high from Nov 4 2022. Support comes in at ¥145.07, high from Jun 30.
  • Elsewhere in G-10; GBP is a touch firmer and EUR is marginally lower.
  • Cross asset wise; BBDXY is ~0.05% lower and US Tsy Yields are ~1bp lower across the curve. E-minis are little changed, as is the Hang Seng.
  • The July UK Labour Market Report provides the highlight in Europe today.

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