Major currencies keep little changed ahead of European trading

The dollar is finding some stability as it sheds early losses but is still keeping rather vulnerable after yesterday's tumble post-FOMC meeting.

Even as major currencies are not doing a whole lot yet, the technical bias appears to be leaning towards a weaker dollar as we look towards the end of the week.

EUR/USD in particular has broken above key trendline resistance, seen today @ 1.2111, suggesting an extended breakout towards 1.2200 if buyers hold above that.

GBP/USD buyers look keen on retesting 1.4000 while USD/CAD is running with the break towards its lowest levels since February 2018 near 1.2300 currently.

Invest in yourself. See our forex education hub.



Source link

×