Today we have seen dollar strength across the board. We have seen EURUSD trade to session lows of 1.3663 with GBPUSD testing the 1.6620, USDCAD broker above intra day resistance and traded as high as 1.1115, AUDUSD has come under downside pressure with a 0.8956 low traded, Gold has also followed suit after trading as high as 1345.3 we have seen it drop back down to as lows as 1322.2, USDJPY did have a dip down to 102.09 on the 3pm (GMT) fix, before buyers came in and took is back up to test the 102.40 resistance.
In the bigger picture the majors have been trading within a range and only EURUSD has broken out on the downside, EURUSD could now be leading with other pairs in catch up mode, I am a dollar bull and have been buying recent dips, if this is the start of the next leg higher there will be plenty of opportunities to buy the dollar so avoid getting caught long at these highs.
