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| Action Insight | Candlesticks Trades | Markets Summary | Action Bias | Top Movers | Daily Technicals |
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| Action Insight Weekly Report | Markets Snapshot |
Dollar & Yields Strong ahead of FOMC, Sterling Turning Corner as Referendum ApproachesAfter initial weakness, European majors turned sideway against the greenback as recent selling momentum was exhausted. Focus was then turned too selling in commodity currencies and yen. After a rather volatile week, AUD/USD ended as the biggest mover, losing -335 pts, or -3.71%. EUR/AUD was indeed the second largest mover, up 514 pts, or 3.59%. The order of weakness Aussie, Kiwi, Yen and Loonie. On the other hand, Euro has indeed registered as slight weekly gain against dollar but that was rather ignorable as EUR/USD was just consolidating in tight range. Overall, the tone of dollar remained generally firm. |
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| Featured Technical Report | |
AUD/USD Weekly OutlookAUD/USD's fall from 0.9504 resumed last week and accelerated after taking out 0.9236 support. The development confirmed head and shoulder reversal (ls: 0.9460, h: 0.9504, rs: 0.9401). Initial bias remains on the downside this week for 61.8% retracement of 0.8659 to 0.9504 at 0.8982. Sustained break there will bring retest of 0.8659 low. On the upside, break of 0.9236 support turned resistance is needed to confirm near term reversal. Otherwise, outlook will stay bearish in case of recovery. |
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