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USD weakness extends in Asia

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Bali) - The US Dollar continues to struggle to recover back its pulse, with the Aussie and the Japanese Yen both expanding gains ahead of the Tokyo lunch break.

    AUD/USD testing sellers' nerves

    AUD/USD has re-tested the 50% fib line from yesterday's decline off 0.7250, with solid offers still containing the advance through 0.7205/10 (origin of early US sell-off phase on Monday). Should an hourly close above 0.72 be seen, the next target for bulls looks set at 0.7215 ahead of 0.72030 and 0.7250.

    New weekly highs for the Yen

    USD/JPY has broken yesterday's low at 122.73, however little follow through has been seen, as buyers step in with decent volume for a possible reversal, should the 122.73/75 area be regained. Should the downside move resume, expect 122.50 to provide the next support.
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