We’ve seen some modest recovery in pairs like EUR/AUD overnight but it’s been pretty quiet overall. The BOJ statement will be the main event on today’s economic calendar and I’m expecting some tight ranges until that happens.
- AUD/USD is still in .92/.93 consolidation;
- EUR/USD support 1.3650/70 is still holding very firm;
- Cable is also in range trading mode between 1.6470/1.6680;
- USD/CAD support at 1.0950 continues to hold but the lack of bounce will be worrying the bulls;
- USD/JPY is also mid-range in my view and the BOJ language will determine whether we see 102 or 104 next.
Good luck today.