Psychology for major markets July 16

EUR/USD – EUR/USD's rebound stall just short of the 1.1490 area resistance. Sustained breakout will depend on Middle East development.

USD/JPY –  USD/JPY is consolidating around recent high. The ebbs and flows are balancing themselves for now. The next leg will likely be north still, though the pace may not be sufficient to trigger an actual intervention.

AUD/USD – The Aussie is fast approaching the 0.7030 resistance. Further break will require strong risk and metal performance.

Equities & Others – Broader risk sentiment remains soft as there are signs of further escalation between U.S.-Iran. Trump's optimism is nowhere to be seen and that should pretty much tell you the situation there.