The US$ has rallied on the back of upbeat US data and has broken out of the recent 4hr triangle and above the 97 S/R level. This has had the obvious drag on the EUR/USD, Aussie Kiwi and Cable with some TC signals and trend line breakouts but the moves have been rather small.
The US$ is little changed and the GBP has caught a bit of a bid but, apart from that, Forex action remains fairly quiet.
US$ weakness has helped to trigger some risk-on style FX moves and TC signals but Gold and Oil are the key items in focus.
The US$ continues to struggle at 95.70, and all of the other resistance levels mentioned in my weekend posts. The EUR/USD looks to be worth watching though as it holds at the recent Low and, given, there isn’t much data today.
The US$ has pushed on higher but I’m not seeing the capitulation with most Forex pairs that you might expect to see under these circumstances; Gold, the EUR/USD, Kiwi, Aussie and Cable are all lower, but not too much. Hence, I’m a bit wary especially seeing that risk appetite was back on with stocks last […]