Quiet start to the session so far

Not a whole lot going on to start the new day/week

The risk mood is looking a bit more mixed, with Chinese equities faring better after the PBOC injected liquidity into the market earlier in the day. But European futures are more subdued, failing to take much hints from the slightly higher US futures today.
Elsewhere, Treasury yields are a tad lower at the longer end of the curve while precious metals are advancing slightly. Major currencies in general aren’t doing much either.
The dollar is a tad weaker – except against the kiwi – but the losses aren’t anything substantial as we get things going in European morning trade.

EUR/USD is testing the high from last week @ 1.1865 as buyers keep near-term control but the trading range over the past three weeks remain somewhat stuck around 1.1700 to 1.1900 for the most part.
That remains the key range to watch in case for any moves later in the week.

Cable is also looking rather locked in range as price action continues to center around the 1.3100 handle – similar to the end of last week.
Buyers are still defending the 200-hour MA (blue line) but maintaining a firm move above 1.3100 and the resistance region around 1.3127-32 remains a challenge.
In the bigger picture, the trading range remains somewhat trapped between 1.3000 to 1.3200 for the time being and that will be the key extremes to take note of.

AUD/USD is also somewhat stuck over the past week, hugging levels between 0.7100 and 0.7200 as buyers and sellers do battle around the key hourly moving averages.
The 200-hour MA (blue line) was defended earlier but gains remain elusive as the 0.7200 handle is still limiting any near-term upside potential for now.
The calendar day ahead doesn’t promise much, so barring any major headlines or risk tilt, we could be in for a more subdued Monday today.

Source: Technical analysis

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