It doesn't look like there is much appetite in FX for the time being and that probably speaks to the kind of sentiment or feeling that traders are getting to start the new week. The long weekend in the US pretty much means that later today is when the action is really going to get underway and so the breather for equities and risk is yet to be vindicated.
EUR/USD is up slightly by 0.3% to 1.0540 but remains boxed in to start the new week:
The 50.0 Fib retracement level of the swing move lower in early June at 1.0566 will offer more upside resistance on the daily chart while the key hourly moving averages at 1.0490-09 will offer downside support in the near-term before minor support from the 17 June low comes into play around 1.0444.
Meanwhile, GBP/USD is also looking to push back towards 1.2300 but price action isn't indicative of much even as buyers now do seize back near-term control on a push back above its 200-hour moving average:
I shared more thoughts on the pair yesterday here.
USD/CHF is nudging a little lower but is holding around the trendline support outlined below for the time being:
The trendline support is seen around 0.9655 and will be a key level to watch on the daily chart, with the recent lows around 0.9619-29 also set to offer some minor support for the pair for the time being.
Elsewhere, AUD/USD is up 0.4% to 0.6975 but the 200-hour moving average at 0.6998 and large option expiries at 0.7000-10 are likely to keep a lid on price action for now. USD/CAD is down 0.5% to 1.2915 with oil prices up 1.5% on the day to just above $111.
