The dollar index trade back to Monday levels, with U.S 10yr, yields at 2.73 1 bps higher. G10 currencies and commodities have stuck to tight ranges but Palladium re-fresh high at 1358.50$. In

EM currencies Turkish Lira (TRY) rallied 2.00% against USD on the wake of CBT policy review. Turkey’s Central Bank (CBT) kept the policy rate (1-week repo rate) unchanged at 24%.

USDTRY lost the 50MA and closed at 5.3269 on Wednesday. So far, the cross holds the ascending trendline (below chart) if support fails focus shifts to 5.31-5.28< 200MAs 5.23. Near term capped at 5.5420.

 

The kiwi dollar reversed the recent rally, tested and holds 20MA this morning in Asia. Intraday pivotal finds at 0.6740 below here 0.6700 and 0.6680exists its 100MA coincides with the parallel support.

So far in Asia session, Kiwi dollar down 0.50% against USD and JPY up 0.20%.JPY crosses are underperforming this morning with NZDJPY down 0.60% followed by CADJPY and CHFJPY with 0.30%. It has been a headlight session; the focus remains on the development of Brexit. Data wise EZ CPI is due, not a market moves though.

EURUSD: After the failure against 200EA the EURSUD has started to retrace and consolidating around 50MA. If lost the 50MA, then focus shifts to other support zones 1.1300-1.1260 levels.
Flipside intraday resistance seems to be at 1.1425 above here 1.1470, and 1.1500 exists.

EURZND: Traced out a near-term bottom yesterday at 1.6690 via the formation of a double bottom. However, the daily indicators are not supportive to forecast a bullish target 1.7050. Support finds at 1.6800-1.6765. Moreover, the cross is trading in the descending triangle pattern.

Also read GBP/XXX insights

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