It looks like the dollar’s hopes of building on the massive NFP gains on Thursday are coming to an end. The disappointing 30 odd pip gain in USD/JPY last week is becoming a distant memory as it trips through some small stops below 102 to a low of 101.93.
EUR/USD has had a look above 1.3600 after flushing strong support at 1.3580/85 earlier on this morning.
We’ve matched the late Friday highs at 1.3602 but we’re not getting the full break into 1.3600 we’ll need to give us a bigger move up.
EUR/USD h4 chart 07 07 2014
The next line of resistance comes at 1.3610 which was the level we sat at through Thursday night/ early Friday. It’ also comes right in the middle of the 200 and 100 h4 ma’s.
The next resistance above there is around 1.3650/60
1.3570/75 marks support below
