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Asian stocks are mostly higher. Some risk on flows.

Hang Send up 1.32%

The Asian stocks are doing well in trading today

  • Japan’s Nikkei is up 0.63%
  • China’s Shanghai composite is up 0.61%
  • Hong Kongs Hang Seng index is up 1.36%
  • Seoul’s KOSPI index is up 0.18%.

The one disappointment is the S&/ASX 200 which is trading down -0.25%.

The better tone has risk on flows dominating.

The USDJPY and JPY crosses are moving higher. The AUDUSD and NZDUSD are also higher on the day.  

Looking at the AUDUSD, the pair on Friday dipped below the lows from May at 0.6864-66 area. The low price only reached 0.68627 before bouncing higher.   

The high today has reached to 0.68818.

Drilling to the 5 minute chart below, the pair has been able to extend above the 100 and 200 bar MAs (blue and green lines) on that chart (200 at 0.68789), but the pair has not been able to get above the 50% of the move down from the last swing high from Friday at 0.68834.  A move above that level would give traders building off the failed break on Friday, more upside confidence.  

AUDUSD

ForexLive

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