11th May- Rangebound session. China CPI ahead.

Risk assets hit late in the day on JPM loss in synthetic trading portfolio.

Consolidation today saw markets hold their recent lows. Since the NY stock market close, JP Morgan have announced a $2 billion loss in synthetic trading which has put the pressure back on risk trades such as Equity futures and currencies, including the Aud and Kiwi. Looking ahead, China CPI will be the economic highlight.

CURRENCIES
EUR/USD: 1.2930				Outlook
Res	1.2995	1.3050	1.3080	The Euro steadied itself today as Greece averted an…
Sup	1.2900	1.2870	1.2825	The Euro steadied itself today as Greece averted an…
USD/JPY: 79.93				Outlook
Res	80.00	80.25	80.50	US$/Jpy held the 79.60 support today and drifted …
Sup	79.60	79.40	79.20	US$/Jpy held the 79.60 support today and drifted …
GBP/USD: 1.6145				Outlook
Res	1.6160	1.6200	1.6220	The BOE left rates unchanged, which was largely ….
Sup	1.6100	1.6060	1.6020	The BOE left rates unchanged, which was largely ….
USD/CHF: 0.9280				Outlook
Res	0.9300	0.9335	0.9385	There really is nothing to add to Usd/Chf today as it ….
Sup	0.9260	0.9200	0.9165	There really is nothing to add to Usd/Chf today as it ….
AUD/USD: 1.0055				Outlook
Res	1.0125	1.0145	1.0185	The smoke and mirrors employment number yesterday ….
Sup	1.0020	1.0000	0.9950	The smoke and mirrors employment number yesterday ….
NZD/USD: 0.7830				Outlook
Res	0.7880	0.7910	0.7970	The Kiwi has been dragged mildly higher by the ….
Sup	0.7815	0.7790	0.7750	The Kiwi has been dragged mildly higher by the ….

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Greg McKenna has been a Trader, Portfolio manager and then Currency Strategist at Westpac before moving to Head of Currency Strategy for the NAB. He now writes for the Macro Investor Weekly Newsletter where he is Chief Investment Strategist and will be launching MacroFX shortly.

Ava FX has been an innovative pioneer in online trading since 2006. The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the on-line experience for retail traders.

11th May- Rangebound session. China CPI ahead.

Risk assets hit late in the day on JPM loss in synthetic trading portfolio.

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