MCC Markets

The AUD/JPY cross is showing signs of a comeback, building on its previous day's recovery from the lowest point since June 9, which was in the 93.25-93.20 range. For the second day in a row, it's gaining positive momentum. During the Asian trading session, spot prices even hit a two-day peak, around the 94.40 mark. Now, it seems set to push the momentum even further, surpassing the 100-hour Simple Moving Average (SMA).

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The NZD/USD pair catches fresh bids during the Asian session on Friday and reverses a part of the previous day's retracement slide from the 0.6215-0.6220 region, or a two-week high. Spot prices currently trade around the 0.6170 region, up nearly 0.20%, and for now, seem to have snapped a two-day losing streak, though any meaningful upside still seems elusive.

The Australian Dollar (AUD) is edging closer to the 0.6680 mark against the US Dollar (USD), signalling a corrective move in the Asian trading session. This trend emerges as investors tread carefully, awaiting the release of the Federal Open Market Committee (FOMC) minutes and US labor market data. This sense of anticipation has triggered a surge in selling pressure on the AUD.

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