It is shaping up to be one of those sessions as markets are not getting up to much, with all eyes slowly moving towards key central bank meetings in the week ahead. We'll have the BOJ and ECB tomorrow before we get to the Fed on Wednesday next week.
Major currencies are little changed for the most part with the dollar staying rather sluggish after some weakness yesterday. The charts are doing the talking right now, so let's get into it.
EUR/USD is up 0.2% to around 1.0240-50 with the high earlier touching 1.0273. That is still short of testing the 50.0 Fib retracement level at 1.0283 and that remains a key resistance point to watch in the days ahead:
Meanwhile, USD/JPY recovered from a drop yesterday to move back above 138.00 but price action remains caught and is playing ping pong in between the 100 and 200-hour moving averages:
With risk tones faring calmer, the aussie is a notable gainer today with AUD/USD up 0.3% in an attempt to keep above 0.6900 and buyers are pushing the agenda to open up room to test 0.7000 next:
Such a move will be dependent on risk sentiment in general as well and it will be one to watch before we get to the FOMC meeting next week considering little else to really shake up the mood at the moment.
Elsewhere, cable is still trying to hold a push above the 1.2000 level and that is the key level to watch for the pair. Meanwhile, USD/CAD is in the hunt for a fourth straight day of declines as the rejection at 1.3200 last week continues to ply out. The pair is little changed today though, keeping at 1.2860-65 at the moment. The late June to early July lows around 1.2820-50 will be a key spot to watch in terms of the next support region for the pair.