Risk aversion continues in Asian session as China's coronavirus outbreak continues to worsen. The Shanghai SSE is currently down -8.13%, catching up with others as it's back from holiday. Nikkei is down -1.10%. Singapore Strait Times is down -1.07%. Though, Hong Kong HSI is up 0.09%. The currency markets, are relatively quiet, however, as major pairs are crosses are staying inside Friday's range. Australian and New Zealand Dollars are mildly firmer while Sterling and Yen are softer. But the picture could drastically chance as the day goes on. Technically, USD/CHF is heading to 0.9613 support and break will resume whole down trend from 1.0237. EUR/CHF might follow through 1.0665 temporary low. However, for now, we'd expect strong support from 1.0629 key support level to contain downside. EUR/CHF's reaction to 1.0629 would decide whether EUR/USD's rebound 1.0992 could sustain. |
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