Major currencies update: The Euro closed its day of trading yesterday as a doji candle, closing on its weekly open, trading 55 pips from yesterday’s high to low. Price action in the Euro remains relatively stagnant with the US bank holiday yesterday, trading around 1.1160 for the past 12 hours. Support remains at 1.1090 for the pair, with resistance at 1.1180. The Pound traded most actively yesterday out of the major currencies, rallying 100 pips from the weekly open, with prices now sub 1.5300.
Commodity currencies update: The Aussie is climbing mildly in today’s Asian session, up 35 pips from the open at a current spot price of 0.6960, keeping steady above the 0.6900 figure held earlier in the trading week. The Kiwi is experiencing a similar recovery rally upwards from establishing a swing low yesterday at 0.6240, with spot up 20 pips from the open, with price now steady at 0.6280. Market activity is likely to remain limited for today’s trading day as the economic calendar proves to be quite light, with only low-tier releases scheduled today.