The forex markets are relatively quiet in Asia, with Japan and China on holiday. Main theme is extended selloff in the Japanese Yen despite steep decline in Hong Kong and Singapore stocks. Aussie and Kiwi are the mildly firmer ones while Swiss Franc is softer. Also, a major talking point is the strong rises in cryptocurrencies, as led by ethereum which hits record high. Technically, despite the late rebound in Dollar last week, there is no clear sign of bullish reversal yet, except versus Yen. In particular, we'll keep an eye on 0.9180 minor resistance in USD/CHF and 0.7676 minor support in AUD/USD. As long as these levels holds, we'd expect selloff in the greenback to come back sooner or later. In Asia, at the time of writing, Hong Kong HSI is down -1.48%. Singapore Strait Times is down -1.32%. China and Japan are on holiday. |
