No new developments as an inside day range is formed. Price could face strong support/resistance at 78.15 and 78.5 respectively especially if there is no new progress/setbacks with regards to Spanish and Greek woes.
After being the biggest loser last week which saw AUD/USD reach a low of 1.015, this week is all about bulls as price appears to be nicely supported on L3 and Yesterday’s support. Nonetheless 1.025 could be a bridge too far for Aussie Bulls to cross as we’re still in a strong bear trend amidst a risk-off global backdrop.
Slowly but surely Kiwi is heading lower. Price has rebounded from L3 and appears to head to H3. But that could be all the bulls wrote for today as L3 level coincides with 7th Oct Peak and 9th Oct support.
Hang Seng Index Fuures M15
Yet another failed attempt to go lower as bulls fight back after the initial gap. Overall tone is still bearish with closing price today just at yesterday’s Close, hinting that the bears didn’t succeed but at least they didn’t fail.
Nikkei 225 Futures H1
Support from bulls is nonexistence as price has been heading 1 way ever since breaking below Monday levels. As Nikkei 225 futures are traded during US Hours as well, we could see a continuation of selling toward today’s L5. Yesterday’s Low and L3 will act as important intraday resistance for any short-term retracement.
Compared to their Europe counterparts, Asian Currencies and Equities (barring N225) appears to be much better supported. This support could be short-lived should bearishness in Europe influence more Asian bears to come out.
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