A breakout higher or lower out of this triangle will happen following the Australian employment data tonight.
The AUDUSD has a bear flag setting up before some key economic events.
During the past few years there has been a good correlation between the Gold and CNH. The Chinese Yuan has been a good proxy for US Dollar relative performance and risk on / risk off flows. As the Dollar strengthens, USDCNH naturally rises and vice versa.
The AUDJPY fell aggressively overnight to channel support following RBA Governor Lowe’s comments about the path of the next rate move would be.
Since the AUDUSD rallied from the late North American session selloff from a couple weeks back, the rally has stalled at the 200DMA.
The AUDJPY spiked past resistance and tagged the 61.8% key Fibonacci retracement and also the channel resistance.