With US payrolls released later on in the trading session, the Asian markets were relatively quiet overnight. Non farms, plus the G20 this weekend, meant Asian traders stayed on the sidelines. RBA increasing their growth forecasts from 0.5% to 1.75% and saying rates will rise steadily. Equities also higher with Nikkei + 0.8%, Shanghai +0.6% and Sydney + 1.7%. Markets could stay in tight ranges into the data today.
The chart below shows the EURUSD performance over the past 12 months.
AUDUSD range 0.9092-0.9139. Even with RBA comments AUDUSD hasn't really motored but rather a steady rise from sub 0.9100. Resistance topside at 0.9150/0.9180/0.9200. AUDJPY also bid with positive stocks helped and AUDUSD will find support 0.9085/0.9050.
USDJPY range 90.57/90.86. Still stuck in its range. Helped by higher Cross/JPY but very quiet. Support 90.30/50 resistance 91.00/91.20.
EURUSD range 1.4854-1.4881. As with other pairs seems everybody waiting for US data before we break one way or another. Topside resistance at 1.4900/45/65 with 1.4840 first support
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