This week’s economic calendar started with a 2.7% CPI inflation rate in China, that has helped the Asian mood up to a point. In Australia, despite further lockdowns and a rising infection rate, 10-year yields a few basis points higher. We’ve cut out AUD/USD long and are hoping to get back in at better levels at the end of the month, but the out-performance...
While USD weakness continued for most of last week, an upside surprise in US non-farm payrolls data as well as an easing in risk sentiment as another round of US economic stimulus looked in doubt saw the USD recover some losses late last week. The FAST FX model still lost -0.19% last week being short EUR/USD and is up 12.20% over the past year with a hit rate of...
The immediate risk is seen sideways with support seen at 1.1738, then 1.1699/97. Resistance is seen at 1.1851.
Below 1.1697 will invalid the idea and confirm the double top.