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Daily Report: Dollar Opens Broadly Higher, Commodity Currencies PressuredDollar opened the week generally higher as supported by views that Fed will finally hike interest rate from near zero level within the coming months. The dollar index extends last week's rise and breaches 98 handle. Commodity currencies are generally lower as pressured by rate views as well as slump in commodity prices. In particular, gold tumbles to five year low and breached 1100 handle. European majors are also under some mild selling pressure against the greenback with Sterling paring last week's gains against Euro and Swissy. |
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| Featured Technical Report | |
AUD/USD Daily OutlookDaily Pivots: (S1) 0.7357; (P) 0.7388; (R1) 0.7408; More... AUD/USD's fall continues today and dips to 0.7326 so far. Intraday bias remains on the downside. Current down trend should target 100% projection of 0.8161 to 0.7597 from 0.7848 at 0.7284. Break will target long term fibonacci level at 0.7182 next. On the upside, break of 0.7487 will indicate short term bottoming and bring strong rebound back towards 0.7848 resistance. |
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