The near-term chart still shows sellers in control, with price action resting below the key hourly moving averages. But any major downside move will be contingent on tariff headlines and trade developments in the next few days.
Elsewhere, USD/JPY is still seen up 0.2% to 155.10 but off its earlier high of 155.51 on the session. AUD/USD is also still down 0.3% to 0.6205 but off its earlier low of 0.6170 after the China retaliation headlines hit.
Looking to broader markets, there is still caution to be heeded though. S&P 500 futures are down 0.2% and 10-year Treasury yields are holding the line but only marginally higher today by 1.2 bps to 4.565% at the moment.
This article was written by Justin Low at www.forexlive.com. Read More Details
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