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The US dollar traded higher against all the other major currencies on Tuesday and during the Asian session Wednesday. It gained the most versus NZD, JPY, and AUD in that order, while it eked out the least gains versus CHF and CAD.

AUD/CAD — Technical Outlook

AUD/CAD traded lower yesterday and today, it fell below the 0.8975 barrier, marked by the inside swing high of June 14th. Overall, the pair has been coming under selling interest after hitting the latest ceiling of 0.9130 and this has been the case since May 11th. Therefore, we see decent chances for the pair to keep drifting south.

USD/JPY — Technical Outlook

USD/JPY edged further north yesterday, breaking above the peak of June 14th, entering territories last tested in 1998. The pair is also well above a tentative upside support line drawn from the low of May 30th, and thus, we will consider the picture to have been overly bullish.

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