By Christopher Romano — Jul 26 - 01:35 PM
NY opened near 0.6560, traded 0.6551-0.65685, neared 0.6560 in NY afternoon
Pair held a tight range in NY but held onto most of the overnight gains
Balance risks helped keep action muted after US PCE, spending reports
US yieldUS2YT=RR drop, equityESv1 & goldXAU= gains limited downside
AUD/JPY drop below 100.90, USD/CNH rally limited the pair's topside
Hold above daily cloud base & rising daily RSI give longs comfort
Falling monthly RSI, inverted monthly hammer, hold below 200-DMA worry longs
June JOLTS, July ADP & payroll reports are key data risks next week
Fed meeting risk looms, no change expected so Powell's presser will be key
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary