• +0.25% in Asia - potential carry demand - AUD/JPY +0.5%, mixed Asian stocks

• Treasury yields are firmer, 10yr +3bp to 4.632% on TWEB - S&P/ASX 200 +0.2%

• There is no Australian data today so risk, and the USD to lead in Asia

• Charts: 21-day Bollinger bands contract, momentum studies base

• 5, 10 & 21 daily, and weekly moving averages trend lower - net bearish setup

• The 0.6170 2022 low holds - break would target 0.5980 April 2020 base

• The 0.6274 Dec 20th high and 21 DMA is the pivotal short-term resistance

• A sustained break of 0.6274 would initially target the 0.6382 Dec 13th high
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)