FX Daily Strategy: Asia, Jul 7

July 6, 2026 3:31 PM UTC

Dollar steadies, risk steadies, summer slowdown may be here
USD/JPY recoups - recovery time seems proportionate to scale of the drop
Thin calendar, Minutes and RBNZ still the later highlights

EUR/USD, USD/JPY - US NM ISM solid as expected

July 6, 2026 2:25 PM UTC

US NM ISM broadly as expected, another solid report

Chart AUD/USD Update: Room for a minor test higher

July 6, 2026 1:54 PM UTC

Little change, as prices extend consolidation beneath the 0.6950 weekly high of 3 July

Chart EUR/JPY Update: Higher in JPY-driven trade

July 6, 2026 1:41 PM UTC

Cautious trade has given way to steady gains in JPY-driven trade

Chart USD/JPY Update: Smart bounce in both USD- and JPY-driven trade

July 6, 2026 1:13 PM UTC

Consolidation has given way to a sharp run higher in both USD- and JPY-driven trade

Chart USD/RUB Update: Consolidating gains - daily studies under pressure

July 6, 2026 12:25 PM UTC

The anticipated break above the 78.4600 Fibonacci retracement has been pushed back from 79.4900

Chart USD/ZAR Update: Consolidating - studies under pressure

July 6, 2026 11:47 AM UTC

Little change, as prices extend cautious trade beneath congestion resistance at 16.2500

Chart EUR/CAD Update: Balanced at highs - room for a minor pullback

July 6, 2026 11:01 AM UTC

Little change, as prices extend cautious trade beneath strong resistance at the 1.6250~ monthly high of 14 April and the 1.6270 monthly high of 19 June

Europe Summary and Highlights 6 Jul

July 6, 2026 10:02 AM UTC

USD/JPY creeping back into recent top with US holiday cleared

Chart EUR/CHF Update: Any gains to remain limited

July 6, 2026 9:53 AM UTC

Little change, as prices extend cautious trade within the 0.9180 - 0.9200 range

Chart USD/CHF Update: Limited tests higher

July 6, 2026 8:25 AM UTC

Anticipated continuation lower has not been seen

Chart USD Index DXY Update: Immediate gains to remain limited

July 6, 2026 8:16 AM UTC

Consolidation is giving way to a push higher, as intraday studies turn higher, with prices currently testing levels just above resistance at 101.00

Chart EUR/GBP Update: Leaning lower

July 6, 2026 8:02 AM UTC

Little change, as prices extend cautious trade around 0.8565

Psychology for major markets July 6

July 6, 2026 7:58 AM UTC

USD Solid

Chart EUR/USD Update: Drifting lower

July 6, 2026 7:50 AM UTC

Cautious trade beneath congestion resistance at 1.1450 is giving way to a drift lower

Chart GBP/USD Update: Leaning lower, but downside to remain limited

July 6, 2026 7:35 AM UTC

Choppy trade beneath the 1.3385 weekly high of 2 July is giving way to a drift lower

Chart AUD/JPY Update: Supported at 111.30

July 6, 2026 7:21 AM UTC

Still supported with bounce from the 111.30 low returning to pressure resistance at the 112.00/50 area

Chart GBP/JPY Update: Poised for retest of 216.60 current year high

July 6, 2026 7:00 AM UTC

Consolidation below the 216.00 level has given way to rebound from the 214.50 support

Chart USD/CNH Update: Consolidating

July 6, 2026 6:42 AM UTC

Little change, as prices steadied above 6.7800 support to consolidate losses from the 6.8195 high

USD/JPY NZD/USD flows: Corrective action overnight

July 6, 2026 6:33 AM UTC

USD/JPY regains 162 after US holiday passes
NZD/USD sees some profit-taking ahead of RBNZ, not yet holding onto 0.57

Asia Summary and Highlights 6 July

July 6, 2026 5:37 AM UTC

OPEC+ confirmed a fifth straight monthly output increase
USD Solid on Monday

USD/JPY flows: Rotate Higher

July 6, 2026 4:58 AM UTC

USD Solid on Monday