The forex markets are generally trading in very tight range in Asian session. While DOW surged to new record high overnight, Asian indexes are just mixed. Dollar started a pull back but there is no clear follow through selling so far. At the same time, commodity currencies are generally stronger for the week, as supported by risk-on sentiment. But there is no breakout yet. The markets are still awaiting inspirations for the next committed move. Technically, EUR/USD's decline slowed and recovered ahead of 1.16/17 key support zone. The question is whether it could form a base around current level and stage a reversal. Immediate attention in on 1.1768 minor resistance. Break will probably bring stronger rebound back to 1.1907 near term resistance. Such development, if happens, could be an early sign of Dollar weakness elsewhere. In Asia, at the time of writing, Nikkei is up 0.20%. Hong Kong HSI is down -0.06%. China Shanghai SSE is down -0.12%. Singapore Strait Times is up 0.38%. Japan 10-year JGB yield is down -0.0072 at 0.035. Overnight, DOW rose 0.62%. S&P 500 rose 0.25%. NASDAQ dropped -0.16%. 10-year yield dropped -0.003 to 1.39. | 