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Forex: AUD/USD capped around 1.0300

The Australian dollar is following the rest of the high beta currencies on Monday, trading in the defensive territory as markets are favouring the risk aversion so far.

The Australian docket showed that New Motor Vehicle Sales contracted 2.4% MoM in January and increased 10.8% on a yearly basis.

“The Aussie should be range bound with a mild bias to buy dips in the low 1.02s. Pricing for an RBA cut on 5 Mar pulled back after consumer sentiment, while US yields are struggling to break higher, helping AUD/USD. But the resilience of USD/JPY is capping the Aussie ahead of 1.04 as JPY weakness spills across the region”, explained Sean Callow, Strategist at Westpac.

As of writing, AUD/USD is up 0.03% at 1.0295 with the next resistance at 1.0307 (low Feb.13) ahead of 1.0326 (low Feb.14) and then 1.0334 (MA10d).
On the downside, a break below 1.0270 (hourly high/lows Feb.12) would bring 1.0238 (Lower Bollinger) and finally 1.0203 (low Oct.15).

Forex: USD/CHF at Friday's highs

The Asian session rally was capped at 0.9258 and so, the USD/CHF retrieved to Friday's high area, around 0.9242. The market is up by +0.28% and extending the retracement of late January's tumble to 0.9022 low.
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Forex: USD/JPY up on more Abe/BoJ saga

After the G20 meeting avoiding to criticize Japan's policies directly over the weekend, the USD/JPY rallied on Prime Minister Abe suggestion to the Parliament that he considers removing the BoJ’s independence should the central bank fail to achieve 2% inflation.
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