Selling of Dollar picks up momentum again in Asia today, with EUR/USD breaking through 1.18 handle finally. On the other hand, New Zealand Dollar is staging a notable rebound as Covid case number dropped to the lowest level in six days. The markets are mixed elsewhere though, with some additional strength see in Euro, followed by Sterling. Canadian and Australia Dollars are lagging behind the Kiwi. Technically, EUR/USD's break of 1.1804 resistance should now put 1.1907 resistance in focus. Firm break there will turn outlook bullish for 1.2265/2348 ahead. We'll see if the move is accompanied more Dollar selling elsewhere, like break of 1.3785 resistance in GBP/USD and 0.9098 support in USD/CHF. Or, that would be followed by break of 130.54 resistance in EUR/JPY and 0.8592 resistance in EUR/GBP to signal Euro strength. In Asia, at the time of writing, Nikkei is up 0.62%. Hong Kong HSI is down -1.43%. China Shanghai SSE is down -0.75%. Singapore Strait Times is down -1.41%. Japan 10-year JGB yield is up 0.0002 at 0.020. Overnight, DOW dropped -0.16%. S&P 500 rose 0.43%. NASDAQ rose 0.90%. 10-year yield dropped -0.027 to 1.285, back below 1.3 handle. |
