Gold led the move by a few days so it should come as no surprise that while it takes a breather the dollar stays weak.
Given the topside break out of a months-long range today there appears to be good interest among medium-term players to buy EUR/USD on dips. There is likely to be even more interest to buy on strength. Only a quick mpove back below the 0.4450 level will alleviate the near-term topside pressure and that doesn’t look likely near-term.
1.4460/80 bids are seen as formidable near-term. EUR/US trades at 1.4525.
