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USD Trims Monday's Losses In Early Trade

FOREX

The greenback has trimmed some of Monday's losses in early dealing, however ranges do remain narrow with little follow through on moves thus far.

  • Yen is marginally pressured, 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.
  • Kiwi is a touch lower, however a ~15 pip range has persisted for the most part this morning. NZD/USD is holding above the $0.59 handle.
  • AUD/USD is ~0.1% lower than last printing at $0.6425/30. 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/
  • Cross asset wise; e-minis are ~0.1% lower and BBDXY is up ~0.1%. US Tsy Yields are little changed across the curve.
  • There is a thin docket in Asia today, further out we have the latest UK Employment Report.
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