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| Action Insight Weekly Report | Markets Snapshot |
Dollar Broadly Lower ahead of an Eventful WeekDollar was the weakest currency last week as it was hit by a string of economic indicator. New Zealand dollar was the strongest one with NZD/USD hitting a three year high of 0.8793, not far from record high of 0.8842. Canadian dollar closely followed and with USD/CAD extending recent fall to as low as 1.0664. There are also some other bearish signs seen in the greenback. USD/JPY resumed recent fall from 102.79 and is heading towards 100.65/82 key support zone. Meanwhile, USD/CHF also closed below 0.8907 support, which affirmed near term bearishness. Though, EUR/USD and GBP/USD were still stuck in established range. |
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| Featured Technical Report | |
USD/JPY Weekly OutlookUSD/JPY's fall from 102.79 finally resumed last week and took out 101.42 support. Intraday bias remains on the downside this week for a test on 100.65/82 key support level. The larger fall from 105.41 could be resuming and decisive break of 100.65 will confirm. More importantly, such development will carry larger bearish implications. On the upside, above 101.87 will dampen this immediate bearish view and turn bias back to the upside to extend recent sideway trading. |
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