Dollar holds slightly higher to start the day

Technical Analysis

Author: Justin Low | usdjpy

Dollar leads gains going into European trading

The changes are relatively light but there are some decent ranges as we get things going on the session. EUR/USD is down 0.2% to 1.1574 while GBP/USD is down 0.2% to 1.3724 currently, with the former testing its key hourly moving averages @ 1.1570-79.Invest in yourself. See our forex education hub.

The aussie is among the laggards as AUD/USD is marked down to 0.7395 at the lows for the day with some added selling in AUD/NZD not helping; the pair is down from the highs of 1.0600 last week to 1.0472 at the moment.

Going back to AUD/USD, the pair is inching close to a test of its 100-hour moving average @ 0.7387 so that is a key near-term level to watch in the sessions ahead.

Besides that, USD/JPY is continuing to look perky as it holds a touch higher at 114.27 and while a weekly break above 114.00 is encouraging, there is still some resistance from the swing region around 114.37-74 to contend with for the time being.

USD/JPY W1 18-10
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