The forex markets are rather quiet in Asian session today, even though risk sentiment is positive. Most major pairs and crosses are staying inside Friday's range, even though Yen is slightly stronger with Swiss Franc and Euro. Commodity currencies are generally soft, except Canadian, which is indeed trading notably higher against Aussie and Kiwi. Technically, AUD/CAD looks set to resume medium term down trend from 0.9991 after multiple rejection by 55 day EMA. Deeper fall is expected as long as 0.9130 resistance holds. Main focus is indeed on 61.8% projection of 0.9991 to 0.8906 from 0.9514 at 0.8843. Sustained break there could prompt steeper selling and downside acceleration. In Asia, at the time of writing, Nikkei is up 1.49%. Hong Kong HSI is up 2.18%. China Shanghai SSE is up 0.75%. Singapore Strait Times is up 0.49%. Japan 10-year JGB yield is up 0.0005 at 0.235. | 