Kind of an eerie calm has descended over the forex market this afternoon. Traders continue to watch the stock tape and see nothing but red prints but they seem unwilling to jump into fresh positions in the FX market.
AUD is the most pressured unit this afternoon making fresh session lows at 1.0356, this barely a day after brushing 1.0600.
We’ve retraced about 38.2% of the rally from 0.99 and change. Stops are seen below the Fibo, which comes in at 1.0345.
