The dollar continues to keep steadier in trading today, although the ranges against some major currencies is leaving a lot to be desired. EUR/USD is one of them with the pair stuck in a 21 pips range and keeping little changed at 1.0775 at the moment. USD/JPY is also pretty much flat at 138.55, holding the push back above 138.00 so far this week.
The pound though has been an interesting one with GBP/USD having touched a high of 1.2465 earlier after the hot UK CPI data. The move was contained by the 200-hour moving average though and price has even taken out the jump higher, in a fall to 1.2410-20 levels at the moment:
As you can see, the pair has been struggling to get above and/or hold above key near-term levels recently and is now also starting to slip back below its 100-hour moving average (red line). That continues to see sellers keep near-term control in trying to bring price towards a test of the 10 and 17 April lows at the 1.2344-53 region.
Elsewhere, the antipodeans are the laggards with the kiwi leading the downside charge after the RBNZ signaled a stop to its tightening cycle. NZD/USD is down 1.7%, extending losses from Asia, to 0.6135 now and is contesting a break below its 200-day moving average as noted earlier here.
AUD/USD has also been inadvertently dragged lower as a result, down 0.5% to 0.6575 and is closing in on a test of its March and April lows in the region of 0.6563-73 at the moment.
