EUR: My conviction is pretty low at the moment, more inclined to fade rallies ahead of HH but essentially keen to wait and hear what she has to say. Support at 1.0965 (yesterday low) followed by the July low at 1.0916 with resistance at 1.1040 and the post RS peak at 1.1090 .
JPY: Support around 122.80/85 held post the figures and we continue to favour longs targeting a break of the 123.73/76 July double top and ultimately the 124.25/45 region of resistance.
GBP: Important that the wage data is strong and if that’s the case expect to see another leg of GBP strength. Cable difficult given Yellen speech later and USD headwinds but EURGBP should continue to struggle with cycle lows of 0.69885 the next support.
AUD/NZD: Along with the move in Chinese equities, AUD was also under pressure from another drop in Westpac Consumer Confidence for the second month in a row. We continue to think selling in front of 0.7490 with a stop at 0.7540/50 is good risk reward. Kiwi definitely feels as though it has been reduced after the correction lower in AUDNZD, but we still would like to sell at higher levels than here. AUD: 0.7500 and 0.7535/40 as resistance, with support still down at 0.7372. NZD: 0.6620 support and 0.6810 resistance.
CAD: Big day for USDCAD today with both the Bank of Canada and Yellen’s first day of testimony. Levels: 1.2835 cycle highs still stand as resistance, with 1.2710/00 and 1.2650 below.