15.1 C
Munich

Dollar keeps steadier to start the session

Must read


Little change in FX so far on the day

There isn’t much movement among major currencies to start the new week, with the dollar maintaining a narrow range for the most part even today.

The aussie is mildly softer after having seen its initial post-RBA gains erased but AUD/USD is also off earlier lows of 0.7411 to 0.7432 currently.

Broader dollar sentiment is still focusing on the post-NFP narrative and we’ll likely have to wait on Fed speakers later this week to provide more colour to the picture.

EUR/USD price action exemplifies the more tentative mood for now:

EUR/USD D1 07-09

The pair is still contained below resistance at 1.1900 and the 30 July high @ 1.1909.

However, buyers are still keeping a more bullish near-term bias at least:

EUR/USD H1 07-09

Price is holding above the 100-hour moving average (red line) @ 1.1861 so that is the first key line of support before the 23.6 retracement level comes in @ 1.1851.

Invest in yourself. See our forex education hub.



Source link

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article