Dollar leads the way to start the new week
The greenback is recovering some ground today after having fallen at the end of last week amid the US non-farm payrolls miss on Friday.
The gains so far today are relatively modest but nothing overly significant. EUR/USD is keeping near the lows around 1.1860 but within a 30 pips range on the day still.
Looking elsewhere, the antipodeans are the ones lagging with the aussie and kiwi down 0.4% against the greenback so far on the day.
AUD/USD is down 27 pips to 0.7430 and is looking to see a mild pause after four consecutive days of gains. A glance at the daily chart:
There is some support lined up closer to 0.7400 (resistance now turned support) alongside bids and key near-term support seen closer to 0.7382 in the form of its 100-hour moving average, so all of that is still limiting any major downside.
As such, we're seeing some light pause to the recent momentum as the dollar recoups some losses from Friday but nothing to suggest a turn in the technical side of things yet.
