The main headline during Asian trade came from RBA governor Glenn Stevens’ speech, as he was telling the market to expect a lower Aussie as terms of trade will continue to fall, causing the Aud/Usd fall to a low of 0.9514. The Usd/Jpy remained relatively unchanged as Japanese Retail data come in at 1.8% m/m and the Unemployment rate come in at 4.0%.
Trade Idea
USDCHF
A break of the 0.8965 resistance level should have the pair targeting the 0.9045 level. A failure to break through may have the pair testing its low of 0.8880 once again.
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