Currency Updates:
The Australian Dollar (AUD): AUD/USD rallied after yesterday’s RBA Monetary Policy statement where RBA showed less concern on the recent strong AUD. The pair pushed all the way to 0.9080 but bounced back hard from the resistance of 0.9085 as bulls showed tiredness from the past few rallies also with signs of stronger USD.
AUD/USD: Resistance at 0.9085 and 0.9100. Pivot at 0.8995. Bulls need to push above 0.9085 for a second round of rally.
EUR/USD: Resistance at 1.3770 and 1.3800. Pivot at 1.3690. The pair closed above the 61.8 fib, RSI showing positive momentum and narrowing yield spreads support the rise.
GBP:USD: Resistance 1.6760 & 1.6825. Pivot at 1.6660. Support comes in at 1.6605 if 1.6660 breaks.
USD/JPY: USD/JPY managed to close above the cloud base at 101.53, however, a break of 102.85 (kijun) is needed for further rally.
USD/JPY: The bulls gained more confidence after BOJ announcement as loan facilities had been extended by a year and the amount available was doubled but current policy left on hold for now. However, poor economic data from U.S. will keep this pair on a range trade of 101.60-102.80.
EUR/JPY: EUR/JPY boosted up strongly from both yen cross and also the strong EUR/USD. This pair rallied from a low of 139.48 to a high of 141.02, targeting 141.20.
Oil prices made solid gains overnight, hitting a 4 months highs as investors continue to bet on increased demand due to ongong cold weather in U.S.
Looking Ahead – Economic Data (GMT)
• 00:30 AU Wage price index qq Q4 f/c 0.60%, 0.50%-prev
• 00:30 AU Wage price index yy Q4 f/c 2.60%, 2.70%-prev
• 04:30 JP All Industry Act Idx mm DEC f/c 0.1% 0.3%
• 05:00 JP Coincident Index DEC 111.7-prev
• 05:00 JP Leading Index DEC 112.1-prev
Looking Ahead – Events, Other Releases (GMT)
• 05:00 JPY Bank of Japan’s Monthly Economic Report for February
AUD/USD: Current strong AUD/USD is showing signs of tiredness from breaking different levels of previous resistances. However, the Aussie dollar is starting to form a downtrend from yesterday’s sell off due to improving U.S economy where jobs and housing industries continued to grow. Even though we saw improving data from both Australia and China, problems in the mining industries and banking sectors still remain. 
