AUD/JPY has been forming a rising channel on its daily time frame, indicating that the longer-term uptrend is still valid. The pair is even finding support at the middle of the channel and might be headed back for the top around the 97.00 levels.
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The US dollar barely reacted to the minutes of the latest FOMC meeting, as the report revealed nothing new.
After that strong selloff in the past few trading days, NZD/USD is now finding support at the .8550 minor psychological level. This has acted as a floor for price drops in the past and might hold again.
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The US dollar drew support from risk aversion in yesterday’s trading sessions, as the declaration of martial law in Thailand brought geopolitical risk back in the mix.
GBP/AUD’s downtrend might soon reverse, as the pair has formed a double bottom pattern on its 4-hour time frame. The pair has bounced off the 1.7850 minor psychological level a couple of times then found resistance at the pattern’s neckline around 1.8250.
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The US dollar showed signs of strength in the past few trading hours as risk aversion gripped the financial markets once more.
AUD/USD has been on a steady uptrend, as seen on the 4-hour time frame, but it appears that the rally is slowing down. The pair has formed lower highs from April to May, indicating that sellers are becoming more aggressive.
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The US dollar had a mixed performance on Friday, as the lower-yielding currency simply reacted to currency-specific events.
USD/JPY has been consolidating tighter and tighter inside a descending triangle chart pattern on its daily time frame. This suggests that sellers are trying to push the pair lower but that buyers just won’t let up.
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Data from the US economy came in mixed yesterday, with manufacturing indices printing stronger than expected results and industrial production data coming in short.