21 Mar 2014
Asia Recap: AUD strength, stagnation elsewhere
FXStreet (Barcelona) - With the exception of a stronger AUD, the rest of currencies in Asia consolidated with familiar ranges, with he close of the Tokyo market limiting order flows ahead of the European open.
The AUD/USD continued to show an exceptional resilience, shrugging off EUR/USD sharp slide, USD/CNY appreciation, copper price falls, all negative inputs last Friday, to instead track on the recent bullish momentum built in the last US session. The pair opened at 0.9032 but quickly pressed against the 0.9050 resistance, which once broken, led to further gains until a new session high of 0.9067, with a cluster of offer circa 0.9070 capping the progress for now.
USD/JPY traded in a tiny little 10 pips range between 102.30-40, with the close of Tokyo resulting on no much liquidity available. On the topside, 102.70 up to 103.00 continues the key resistance to break. The remaining G10 currencies were also kept in familiar ranges. No economic data of significance was published during Asia.
The AUD/USD continued to show an exceptional resilience, shrugging off EUR/USD sharp slide, USD/CNY appreciation, copper price falls, all negative inputs last Friday, to instead track on the recent bullish momentum built in the last US session. The pair opened at 0.9032 but quickly pressed against the 0.9050 resistance, which once broken, led to further gains until a new session high of 0.9067, with a cluster of offer circa 0.9070 capping the progress for now.
USD/JPY traded in a tiny little 10 pips range between 102.30-40, with the close of Tokyo resulting on no much liquidity available. On the topside, 102.70 up to 103.00 continues the key resistance to break. The remaining G10 currencies were also kept in familiar ranges. No economic data of significance was published during Asia.