Dollar firms ahead of North American trading

EURUSD H1 25-01

There’s not much else going on besides some continued pressure on equities, with US futures pinned lower as highlighted here.

As such, the dollar is continuing its positive run from yesterday with EUR/USD falling to its lowest since 22 December now. Sellers are keeping well in near-term control, defending a push against the 100-hour moving average (red line) since last week.

That has seen price now crack below 1.1300 and despite large expiries at the figure level today, the shove lower is continuing. This now puts focus on some minor support around 1.1265-70 before revisiting the 1.1240 region.

Overall, the pair has shown a rather lack of imaginative price action since December. Pfft.

Meanwhile, GBP/USD is sliding to its lowest since 3 January in a push below 1.3440:

GBPUSD D1 25-01

The drop yesterday was held by the 50.0 retracement level @ 1.3455 but if that gives way today, the 1.3400 handle is next on the cards.

Elsewhere, AUD/USD is down 0.2% to 0.7125 as sellers will be hoping to try and go in search of a daily close below 0.7100. As for NZD/USD, the break to the downside yesterday is still running as the pair is down 0.5% to 0.6665.


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