But compared to last week, the dollar is still in a vulnerable spot. So far today though, we’re seeing the greenback recover from being lower in Asia trading at least as well. USD/JPY was down to a low of 142.10 earlier but is now up to 142.93 – roughly flat on the day. Meanwhile, EUR/USD is down 0.1% to 1.1375 though there are large option expiries to watch out for. One interesting chart is AUD/USD, which failed to claim an upside break despite some early momentum yesterday:
That’s a disappointing showing on the part of buyers, with the pair now down 0.2% to 0.6470 on the day. That follows another failed attempt to hold a break above the 0.6500 mark. On the week itself, just be wary that the 100-week moving average will also add another resistance layer at 0.6510 for the pair.
This article was written by Justin Low at www.forexlive.com.
