 Tools for TradersTop Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action InsightMid-Day Report: Safe Haven Theme Dominates, Yen Strong, Commodity Currencies Weak Safe haven flows remain the main theme in the forex markets today even though global equities are rather resilient. Yen and to a lesser extend Swiss Franc are trading generally higher. Meanwhile, commodity currencies, Canadian, Australian and New Zealand Dollars suffer most. Fresh selling is indeed seen in early US session on them. Dollar is trading a touch firmer against Euro and Swiss franc. But after all the volatility this week, EUR/USD is holding above 1.2268 minor support well, despite downward revision in Eurozone CPI. GBP/USD is also holding above 1.3873. It's overall, more about selling commodity currencies. Technical OutlookAUD/USD Mid-Day Outlook Daily Pivots: (S1) 0.7766; (P) 0.7825; (R1) 0.7856; More... AUD/USD's fall from 0.7915 extends to as low as 0.7750 so far in early US session. Break of 0.7772 minor support confirms completion of the rebound from 0.7712. More importantly, fall from 0.8135 is now resuming. Intraday bias is now on the downside for 0.7712 first. Break will pave the way to 0.7500 key support. On the upside, break of 0.7915 is now needed to indicate near term reversal. Otherwise, outlook will remain bearish in case of recovery. Suggested ReadingsSafe Havens Advance on Political Risks; European Equities Inch UpTrump-Quakes Roil The DollarStrategy: Trump's Attack On Globalisation ContinuesPound Recovers Ahead Of Busy Next WeekForex Analysis: AUDUSD And EURJPYYen Gains As US Political Uncertainty IntensifiesCurrencies: Euro Eases, but USD isn't in great shape eitherUSDCAD Records 9-Month High, Sharp Buying Interest In Short TermFOMC Preview Sticking To Three Rate Hikes Signal For 2018Economic Data
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