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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - It has been a rather muted session along Asian hours, with investors still digesting the new ruling order established by the US Dollar, with the allure for the rest of currencies miles behind. Amid this new context of broad-based USD strength developing, Asia only managed to print very timid corrections higher in riskier assets, the AUD being one of them.

AUD/USD had a upside technical break above its 18-hour range, however, since bulls have failed to push the price at a significant distance away of the old range, risk continues over possible selling continuation. Nonetheless, the chart looks way overstretched and value to sell at current levels may be limited. One of th epositive news allibiating the AUD/USD pain were the reduction in China repo rates, with average 7-day repo rate at 8.1% and 1-day repo at 7.9%, both over 3.5-4% lower on the day.

EUR/USD continues to correct higher after price formed a short term bullish reversal pattern, which may allow intraday traders to be more confident on driving prices somewhat higher towards 1.3280-1.33, where the next battle between buyer and sellers awaits. USD/JPY consolidated above 97.00 with no majors technical occurrences to report. Meanwhile, the metals complex found bids after making fresh new multi-year lows. Equities, just like in the US, were a sea of red, with Shanghai down 0.92%, Nikkei -0.38% and Hang Seng Index -1.69% at the time of writing.

Main headlines in Asia

- New Zealand: ANZ Job Advertisements for May -1.7% m/m (vs. +0.8% prior)

- Gold and platinum futures margins raised by CME

- EUR/USD building s/t reversal pattern thru HH, HL

- Japan’s economy minister Amari: Says everyone is aware tha easing wont continue infinitely

- New Zealand: ANZ Consumer Confidence for June: +0.2% to 123.9

- China repo rates ease today
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