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Forex: AUD/IUSD retraces from highs, around 1.0280

After climbing to session highs above 1.0310, the Aussie dollar is now correcting lower and trading in the proximities of 1.0280

In the data space, the NAB Business Confidence for the month of February fell to 1 from 3 previous. “Business Conditions, which is a more concrete measure of the current environment, fell to -2.7 from January’s -1.8. This has been negative for 11 months now and reflects the challenge for the economy in pivoting away from the mining sector as the end of the boom approaches against the backdrop of the high currency”, commented Adrian Foster, Analyst at Rabobank.

At the moment, the pair is up 0.08% en 1.0283 with the next resistance at 1.0291 (high Mar.7) and then 1.0303 (high Mar.6).
On the flip side, a breakdown of 1.0245 (hourly high/lows Mar.11) would bring 1.0234 (MA10d) and finally 1.0202 (low Mar.11).

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Forex Flash: USD/JPY captures spotlight after potential BoJ meeting – UBS

The USD/JPY broke to new multi-year high overnight after a Nikkei newspaper article suggested an unscheduled BoJ policy meeting may happen immediately after the new leadership takes office on March 20. The article did not cite any sources (named or unnamed) and seemed to be based purely on the newspaper's interpretation of remarks Kuroda made during his parliamentary testimony on Monday.
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