Greenback retains steadier forward of US CPI report

The image within the main currencies area just isn’t a lot modified in any respect from over 5 hours in the past right here. There have been some mild extension of the ranges however total, it is roughly the place we left off on the finish of Asia buying and selling. The greenback continues to remain extra poised on the week, protecting its post-election momentum.

As talked about earlier, USD/JPY and EUR/USD are two of the extra attention-grabbing pairs as they’re nearing key technical junctures.

The previous is taking a run on the 155.00 mark for the primary time because the finish of July. On a agency break above the important thing stage, there’s little to no technical resistance in that pocket till the 160.00 stage.

As for EUR/USD, the pair is down to check the 1.0600 mark with the April low of 1.0601 in play. For now, massive choice expiries at 1.0600 can also be including one other defensive layer. However all of that is tentative up till we get to the US CPI report later.

That would be the subsequent key danger occasion to look at with a stronger report doubtlessly stirring up additional greenback beneficial properties and a set off to breach the technical ranges above.

This text was written by Justin Low at www.ubaidahsan.com.



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