MARKET SNAPSHOT: 
ASIA HANDOVER
Rumours of a bank run in China forced the PBoc to calm the panic today as the rumour began to spread. Hundreds of depositors line up at Jiangsu Sheyang Rural Commercial Bank to withdraw cash upon hearing of the banks supposed insolvency.
The RBA released their bi-annual FSR (Financial Stability Review) which hinted that whilst they are comfortable with the increased housing prices there is room for the situation to get worse.
FX:
- Narrow ranges across the majors but the Kiwi has seen the strongest demand throughout the session and tested yesterday's highs against the Greenback.
- AUD/USD tested 0.917 handle - see today's video for more info;
- AUD/NZD broke beneath yesterday's low temporarily which produced a Shooting Star reversal at yesterday's close.
- USD/CNH trades at a 2-day high following yesterday's Doji
- NZD/JPY trades to a 3-day high
INDICES:
- AUS200 up 0.5% at 9-day high
- Hang Seng up 0.8% to a 4-day high
- Sideways trading Nikkei 225 for 4th consecutive session
COMMODITIES:
- Narrow range on WTI futures following 3 failed attempts to break above 100 resistance
- Brent up 0.3% but within yesterday's range
- Copper appears to be testing $3.00 resistance again - it broke through this level yesterday so bullish momentum appears to be building
CHARTS OF THE DAY:
AUD/USD: Above 0.917 targets 0.9200
This pairs (similar to NZD/USD) has provided multiple long entries with repeated patterns between messy, sideways correction followed by clean and fast upside break. However notice that each time this occurred we have also seen an aggressive downside move before the eventual spring board to the next target.
Taking into account the strong trend and positive data from NZD I do fancy the support zone holding.
However a break below 0.9250 could confirm a change in sentiment.
AUD/USD: Above 0.917 targets 0.9200
We finally saw the upside break of 0.917 (since I recorded today's video) so as long as we stay above this level I suspect London may target this level, after their obligatory spikes of course....
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