A reversal of fortunes for most pairs during this session today 3 April
What doesn't go up further must inevitably come down and we've seen GBPUSD fail at 1.4090 to post 1.4035 while EURUSD now down at 1.2289 from 1.2236 session highs.
I warned earlier of decent sell interest into 1.4100 and 1.4120 so I hope some of you took advantage. EURUSD I noted too had sell interest building around 1.2335 with larger into 1.2350.
USDJPY went up to 106.28 but has sell interest around 106.30 and larger at 106.50 and with equities on the back foot we've seen yen demand return which is also helping to cap core pairs.
USDCHF remains underpinned above 0.9530 due in no small part to the ongoing support of the SNB while AUDUSD has fallen back to 0.7680 from 0.7707 with large option interest down here also playing out. NZDUSD down to 0.7240 from 0.7263 also with option expiry impact. USDCAD retreat from 1.2910 to 1.2868 has now seen a small bounce to 1.2882.
Good two-way business to be had for those who like to job intra-day while not being too greedy, and ongoing frustration for those who think, wrongly in my humble view, that we're exploding to a new area/volatility anytime soon.
USDJPY finding demand but yen buyers poised too
