Asia update: The dollar index is trading flat, while some USD buying seen against EM currencies TRY and ZAR down 0.20% each.

The Australian dollar rallied between 0.50%-0.30% against most-traded currencies after the December labor force data, but AUD and Yields retreated after NAB raise the mortgage lending rate by 12 to 16 bps from Jan 31.

EURAUD: As long as 1.5890 is support look for 1.6050 and 1.6100. Note that, its 20MA exists at 1.6020.

AUDJPY: Developing an H&S pattern on the H4 chart. Neckline finds at 77.50, and the model is aiming at 77.20.

AUDUSD: Support zone finds between 0.7115-0.7100 below here, focus shifts to 0.7060 and 0.7020. The bulls must breach 0.7170 to escape further correction.

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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