Dollar keeps steadier so far to start the new week

Technical Analysis

Author: Justin Low | usd

The dollar is slightly higher going into European trading

The ranges for the day are still relatively narrow, but they are beginning to stretch a little with EUR/USD easing from 1.1870 to 1.1857 (still sitting in a 22 pips range though).

The greenback is also seeing mild gains against the pound and franc, while holding a slight advance against commodity currencies since Asia trading.

USD/CAD is up 0.2% just above 1.2470 but is facing some resistance from its 100-hour moving average for the time being:

USD/CAD H1 12-07
The pair will be one to watch with the BOC policy meeting coming up on Wednesday.

Elsewhere, AUD/USD is down 0.2% to 0.7467 after failing to breach its 200-hour moving average @ 0.7491 on Friday with NZD/USD down 0.3% to session lows of 0.6971 currently and retreating after failing to push back above 0.7000.

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