Dollar keeps mostly little changed to start the session

The push and pull in risk and the dollar continues this week

Buyers are keeping near-term control as price action holds above the key hourly moving averages @ 1.1813 and 1.1858, so those will once again be key levels to watch in case of any further downside shove later in the day.

AUD/USD is keeping just under 0.7300 for now as price action is caught in a battle between the key hourly moving averages @ 0.7284 and 0.7299.
Keep above that region and the near-term bias turns more bullish but near-term resistance closer to 0.7340 is still limiting gains since last week.
Meanwhile, keep below that and sellers will see more near-term control but there is some minor support from yesterday’s lows closer to 0.7250-55.

USD/CAD has also backed away from a push above 1.3100 and is now trading back below its key hourly moving averages.
Stay below that and the near-term bias is more bearish but there is some support seen around current levels at 1.3060 and the Wednesday low of 1.3034.

Elsewhere, USD/JPY is continuing to keep below 104.00 for the time being after a brief push above the figure level quickly corrected as the bond market continues to fade all the vaccine optimism since last week.
Keep below 104.00 and sellers stay in more control for a potential push back towards the lows at the start of the month near 103.18.

Source: Technical analysis

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

User Agreement

Day Finance is an educational site and a platform for exchanging Forex information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense.
Terms And Conditions