USDJPY shows incomplete lower low (bearish) sequence from March 26, 2020 high and pair has scope to see more downside. The decline from March 26 high is unfolding as a zigzag Elliott Wave structure. Down from March 26 high (111.71), wave (A) ended at 107.1 and wave (B) bounce ended at 109.38. Wave (
The Reserve Bank of Australia has published its May Statement on Monetary Policy.
Markets are looking through the update for variations on the RBA's forecasts for an outline the Bank’s expectations for the profile of the coronavirus shock and recovery. The following are the main points:
AUD/USD declines to seven-day low after confirming a short-term bearish technical pattern.
China’s offshore Yuan drops to the six-week low against the US dollar.
21-day SMA acts as the immediate support ahead of 61.8% Fibonacci retracement.
AUD/USD extends the early-Asian session south-run while fl