Looks like momentum has finally stalled as the dollar came under renewed pressure in the wake of the 16:00 GMT fixing. Oil, gold and the EUR (and AUD) all surged as dose of reflation-driven risk -asset buying came into the market.
The music has stopped and now players are scrambling for chairs, helping the dollar recover from session lows. EUR/USD is down to 1.4390 from 1.4416 peaks while AUD is at 0.9177 from 0.9201.
1.4360/65 should provide support near-term as 0.9170/75 should provide support in AUD. Small trailing stops are seen below each level.
