Dollar eases further as risk rally extends on vaccine news

Technical Analysis

The greenback falls further ahead of North American trading

The greenback is coming under added pressure on the session, falling across the board as the risk mood stays more optimistic on vaccine news today.

The Moderna headline boosted risk trades early on before the Oxford headline solidified the risk momentum and helped to give buyers an extra nudge in the past hour or so.

As such, the dollar is down to session lows with EUR/USD extending gains above its June high @ 1.1448, GBP/USD moving back towards last week’s resistance region of 1.2665-70, and AUD/USD looking to challenge key daily resistance @ 0.7032-63.

AUD/USD D1 15-07

The theme ahead of US trading today is “hope springs eternal” with the market also staying more optimistic about EU leaders reaching a compromise on the recovery fund ahead of negotiations on 17-18 July.

Let’s block ads! (Why?)

Forexlive RSS Breaking technicalanalysis feed

Leave a Reply

Your email address will not be published. Required fields are marked *