Dollar mostly steady to start the session

Technical Analysis

Little change among major currencies for the most part

Besides the euro, other dollar pairs are sitting within 10 pips change of one another to start the session – exemplifying a more tepid mood currently.

After a retreat in the past two days, the greenback is keeping steadier as the gains from the past week are still largely intact. A look at EUR/USD:

The pair is down by roughly 30 pips on the day now to 1.1340 as sellers look to exert more control, with price creeping back below the 100-hour moving average @ 1.1357.

That keeps sellers in near-term control but key support as seen above from the 1.1300 level as well as the 61.8 retracement level @ 1.1290 are limiting any further downside pressure.

As such, that will be a key region to watch in case sellers look to make a play before the weekend comes along.

Elsewhere, USD/JPY is keeping a little higher around 114.30-35 as buyers look to hold their ground above the 114.00 handle in search of the next upside leg.

But I’d argue that may only come if we do see a firm break above the 115.00 handle.

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