Psychology for major markets Mar 6
Choppy Trading Continues
EUR/USD – The Euro has stopped its bleeding for now. But as long as geopolitical uncertainty persists, USD will always have the upper hand. The pair is in the middle of support/resistance zone and could see consolidation without new trigger.
USD/JPY – The push and pull of haven bids shows USD getting the upper hand. JPY is losing the less against the USD within majors, continue to points toward sour sentiment.
EUR/GBP – Little changed as the market's spotlight isn't here.
AUD/USD – The Aussie is seeing some life on improving sentiment. Both risk asset and precious metal are higher, thus supporting the exporting Aussie.
Equities & Others – Broader risk atmosphere is improving on the last trading day of the week since U.S. striking Iran. The geopolitical uncertainty will keep major positioning on their toes.