Dollar keeps more mixed in trading so far today


Dollar gains extend in some pairs but pause in others

Major currencies see a bit more push and pull on the day with the kiwi leading losses as AUD / NZD keeps rebounding from yesterday and as NZD / USD remains pressured with sellers watching a break below trend support outlined here.

The dollar is trading mixed as the euro rises slightly, taking advantage of the more optimistic PMI readings earlier but general sentiment in EUR / USD is still much in favor of sellers.

A look at the weekly chart exemplifies this notion:

EUR / USD W1 23-11

Meanwhile, USD / JPY was initially strengthened in Asia and traded at a high of 115.15 only to hit a rapid air pocket in a fall to 114.50 before remaining around 114.60-70 levels now.

USD / JPY W1 23-11

Much like EUR / USD, dollar buyers are still favored, but in this case, there is key technical resistance at 114.74 and more significantly at 115.00, which limits gains.

Elsewhere, the dollar is trading 20 pips against the pound with cable declining from 1.3400 to around 1.3375 while USD / CAD is up 0.2% to 1.2720-30. AUD / USD however is trading higher by about 0.1% in light trading, keeping around 0.7220-30 for the most part.

Overall, this only shows a slight breather in the bullish dollar, as there is still nothing to suggest a reversal.

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