Forex Flash: Markets set to see Kuroda´s comments as yen bearish - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank believes that markets are likely to continue to interpret the latest remarks from BoJ Kuroda as continually bearish for the yen.

He adds that in the interim, USD/JPY may continue to find support on any dips towards 98.85, while contemplating a breach of 100.00. Looking to AUD/USD, he sees that the labour market numbers this morning proved disappointing relative to prior market expectations and AUD/USD may waver in the short term. Nevertheless, he is expecting a buy dips environment to eventually prevail with first support expected towards the 1.0500 area.

Apr 15, 2013

Forex Flash: Global growth concerns driving currency market - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the traditional safe haven currencies of the US dollar and the yen have continued to strengthen overnight, reflecting heighted investor concerns in the near term over global growth which follows recent strong gains for high yielding currencies driven by the BoJ´s aggressive monetary easing operation.

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Apr 15, 2013

Forex Flash: AUD/USD in false break higher – Commerzbank

Commerzbank analysts believe that the erosion of the 2011-2013 at 1.0517 was a false break: “We note the doji charted 11th April and the divergence of the daily RSI, and the sharp selloff seen overnight, all of which suggest that the break higher was false”, wrote analyst Karen Jones. “We look for a slide back to the uptrend at 1.0394 then the 1.0348/49 support – last week’s low and 50% retracement”, she added, pointing to failure at 1.0348 as needed to negate upside pressure and trigger a slide to 1.0300 then 1.0204 (11th March low en route to the 1.0116 recent low). Intraday resistance is at 1.0480/1.0547 ahead of 1.0598, the high for the year so far and 1.0624 the September 2012 high.

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