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It is still all about the dollar since the US CPI data last week, as the push higher continues for the greenback as EUR/USD breaks down further below 1.1300.
Price is off earlier lows of 1.1265 to stick closer to the figure level now but it is tough to pick at support levels at this stage, though the 61.8 retracement level of the swing move higher from March last year to January this year stands @ 1.1290.
Meanwhile, USD/JPY is testing waters above its November 2017 high of 114.74 as price closes in on 115.00 - its highest since March 2017. A break upon the resistance levels above will see very little in the way of a push towards 118.00 - at least technically speaking.
Elsewhere, gold buyers are still having second thoughts as yesterday's run up above $1,870 faltered towards the closing stags of the day as price hovers around $1,850 levels for now. And oil is continuing to ride a back and forth wave close to $80, with a 1% drop today still suggesting that a deeper pullback may be on the cards.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.
