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Major currencies are little changed to start the day, following a reversal of moves seen in trading yesterday. The dollar clawed its way back higher as we pretty much go back to the drawing board after the earlier moves at the start of the week.

WCRS 20-08

Gold was nudged lower in the process, falling back below both its key hourly moving averages while stocks hit the pause button after reaching all-time highs on Tuesday.

Most dollar pairs are seeing price action move back towards a battle around the key hourly moving averages and that is now the focus on the charts after the breakout failed to hold after the reversal in trading yesterday.

In short, a tricky August trading period just got trickier after the moves yesterday and the market has to figure out firmer direction once again ahead of the weekend.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.