The AUD edged lower through trade on Tuesday testing supports at 0.6850 having marked intraday lows below the key support handle at 0.6842. Broader market sentiment was largely subdued throughout the day.
Risk reset in stocks is boding well for USD/JPY. The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.
GBP/USD registers mild losses while trading around 1.3045 during Wednesday’s Asian session. The pair earlier reversed from 50% Fib retracement of its fall from Jan 07 to 14. A two-week-old falling trend line adds to the resistance.
![Joseph Trevisani]()
The economic improvement from the trade deal, assuming it is completed, will take time. Business sentiment and in turn investment have been the biggest losers.
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