The Dollar-Index (DXY) continued to fall yesterday. However, the support at 110.25/00 held for the time being. From a technical perspective the Dollar could have completed its correction here. But the momentum is quite large, so Dollar longs need to be watched closely. With a daily close below the 110 treshold, the correction could get bigger.
EURUSD -- 0.9919
The currency pair stopped its rally where it was supposed to. Both the 50 ema (1.0002) and the descending red trend line worked well as resistance for now. This leaves the Euro still in bearish territory, albeit just barely. Next support comes in at 0.9890 (mid Bollinger band). Above parity, however, it could get expensive with shorts. Tight stops above the partiy, 50 ema and trend line resistance zone certainly make sense.
USDCHF -- 0.9845
The Dollar has not made it above parity for months. Even last Wednesday -- DXY printed a new multi-year high at 114.78 --, the big 1.0000 level was not in danger. In this sense, the Swiss franc is still considered to have a higher safe haven status than the Dollar. And even higher interest rates could not help the Dollar at this point.
The trading range narrowed recently between 0.9739/40 and 0.9951/66. Important support and resistance comes in around 50 pips lower respective 50 pips higher. The parity level and the 0.9700 mark would be my exit points.
AUDUSD -- 0.6466
The Aussie is still trading weak. Usually, the currency pair benefits from rising stock markets. But that didn't help this time. The RBA delivered a slightly smaller rate hike than expected (+25 bp vs. 50 bp cons. to 2.60%) and caused disappointment yesterday. Rallies seems to be limited for now at the 0.6522/0.6531 resistance zone. Next support comes in at the recent lows 0.6400/91. I currently think the upside is more likely, but I will keep my hands off the pair for now.
Good luck,
Sebbo