Although the greenback edged higher to 93.38, as the move from yesterday ;s low at 91.73 is still viewed as correction of recent decline, upside should be limited to 93.74 (38.2% Fibonacci retracement of 97.00 to 91.73) and renewed selling

Despite rising marginally to 1.4015, the horizontal moving Tenkan-Sen and Kijun-Sen still suggest there is still a non-trend market and further consolidation would take place. We still expect the Ichimoku cloud top (now at 1.4039) to cap euro’s upside for

The British pound rose to an intra-day high of 1.6345 without any significant pullback and although marginal rise above said resistance cannot be ruled out, as the sideways moving Tenkan-Sen and Kijun-Sen still suggest further consolidation would take place, upside

The Australian dollar reached our indicated upside target of 0.7900 (however, we were unable to get a fill of our long entry) and price has retreated from 0.7920 in New York morning, suggesting the first leg of rise from 0.7700

Recent correction in commodities and commodity currencies will likely extend further as reduction in risk appetite has driven plenty of capitals out of risk assets. Australian dollar and New Zealand dollar's rallies in the past few months were overextended due