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The dollar is in a mixed mood as we start the day, with the euro and the pound leading the gains ahead of today’s morning European trade.
But for the most part, the changes between the major currencies are relatively moderate. Elsewhere, stocks appear to be in good spirits, with the Nikkei benefiting from gains in US indices yesterday and US futures are also supported by positive vibes between the US and China.
EUR / USD rallied yesterday but gains stagnated at the 200 hour moving average and price action remains quieter near 1.1800 so far today.
GBP / USD is also still trading below its two key hourly moving averages, but the near-term support around the 1.3050-65 region is still intact for now.
USD / JPY is around 106.00 but price action is contained between the major hourly moving averages at 105.80 and 106.05 currently.
USD / CAD holds higher on this day, but there is short term resistance around Thursday and Friday highs at 1.3234-45 which remains a key place to watch.
AUD / USD price action is slightly favoring sellers after yesterday defending a push towards the 100 hour moving average. But support around 0.7140-55 is still in place and the near term resistance of the major hourly moving averages is around 0.7188.
We could probably see more choppy price action in the coming sessions, but stocks look set to continue rising at this point, so there is this to consider among the potential month-end flows also in the months to come. next days.
But the key risk event will of course be Fed Chairman Powell’s speech at the Jackson Hole Symposium later in the week.
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