Forexlive Asia-pacific FX news wrap 26 Aug: JPY is the weakest.The AUD &NZD are stronger

• Goldman cuts Brent forecast and eyes $70-85 range for 2025
• Russia on the attack: Third round of explosions heard in the Ukraine capital of Kyiv
• Japan’s FM Suzuki: FX rates determined by various factors, not just monetary policies
• China’s January – July industrial profits rise 3.6% YoY
• Geopolitics: Taiwan reports 15 Chinese military aircraft detected over last 24 hours
• Japan service PPI for July 2.8% versus 2.9% expected
• The CAD is ending the NA day as the strongest of the major currencies. The NZD is weakest
• Forexlive Americas FX news wrap: US dollar rebounds, Daly highlights Fed put
• US equity close: Nasdaq struggles ahead of Nvidia earnings. Dow closes at record high

What technical levels are key for the major currency pairs. Find out in the posts/videos below:

• USDCAD stretches down to the swing area target as sellers remain in full control
• USDJPY trades to a new session high. Traders start to look toward 100 hour MA.
• AUDUSD traders patiently wait for the next break. Are you doing the same too?
• USDCHF continues consolidation but remains below key moving average levels
• What are the technicals telling traders in the EURUSD, USDJPY and GBPUSD pairs

The economic calendar was light once again. As a result, the price action was limited in some of the major currency pairs vs the USD.

• For the EURUSD, the range was only 11 pips.
• For the GBPUSD it was only 16 pips.
• The USDCAD had a low to high range of 10 pips.

The USDJPY was again the biggest mover. It stretched to 74 pips – continuing the modest run higher from yesterday. The move has the pair stretching toward the fall 100 hour MA at 145.17 but with a high of 144.97, it is still another 20 pips of upside before it tests that MA level. Nevertheless, it remains a key target as the new day progresses.

The AUDUSD was stuck in a less than 10 pip trading range for the first 4-5 hours of trading in the new day today, but then broke lower (higher USD) on the USDJPYs run to the upside. However, the next key target at 0.6760 could not be broken and sellers turned to buyers erasing the move lower. The pair remains between support at 0.6760 and resistance near 0.6800 and waiting for that next shove.

Overall, the AUD and the NZD are starting the day as the strongest of the majors. The JPY is the weakest. The USD is smack dab in the middle.

Although there little in the way of economic data, there was some geopolitical risk as Russia went on the offensive with drone strikes in Kyiv, Ukraine.

This article was written by Greg Michalowski at www.forexlive.com.