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Overall, only two pairs, the pound and yen, have managed to move more than 10 pips in either direction during the Asian session. The Japanese trade balance fell to 0.19 trillion yen after it was reported that exports fell and the corporate services price index also declined 3.4 percent on the year.
The euro(EUR/USD 1.4290) has been finding resistance in the form of the neutral pivot point at 1.4302 during the Asian session. The pair has the 20 day moving average at 1.4250 which is also near the S1 pivot level. Below that area is the 50 day moving average, also closely correlated with the S3 level, at 1.4130.
The pound(GBP/USD 1.6309) has declined 40 pips and burst through the low of the previous day at 1.6330. The pair found support at the S1 pivot level in the 1.6305 area, and below that is the 1.6275 which has provided support several times over the summer.
The aussie(AUD/USD 0.8345) tried to find support at the 20 day moving average again during the Asian session but that level broke down later in the session. The 20 day moving average has acted as both solid support and resistance over the past 8 days as the pair oscillates around that area.
The cad(USD/CAD 1.0867) bounced higher during the earlier U.S. session and so far has found support at the 20 day moving average at 1.0860 during the Asian session.
The swissy(USD/CHF 1.0621) moved slightly higher during the Asian session but still has to break out of the range it has been stuck in for the past two days. A breakout higher will see many levels of immediate resistance, most notably in the 1.0645, 1.0686, and 1.0720 areas.
The yen(USD/JPY 93.96) was quickly rejected from the neutral pivot point at 94.20 at the start of the Asian session. The Japanese trade balance came in lower than expected at 0.19 trillion yen as exports slumped during the month of July..
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