There's not much for traders to work with to start the new week so it seems like we are seeing the technicals stay more respected.
European equities are mixed with US futures slightly lower, while bond yields are continuing to keep higher on the day. I would say there's not much conviction to start the new week, with the Russia-Ukraine war ongoing as the Mariupol contest intensifies.
In FX, the dollar is steady for the most part though we are seeing slight weakness in the aussie and pound. AUD/USD continues to keep below 0.7400 after the latest attempt to keep above that failed:
Price is down 0.4% but buyers are still comfortably in near-term control with the key hourly moving averages only seen @ 0.7303-13.
Meanwhile, GBP/USD is keeping below 1.3200 for now as sellers are leaning on that to keep a lid on price action. The post-BOE drop saw the downside defended at the 200-hour moving average (blue line) and that will remain a key line of defense for near-term price action @ 1.3107.
