The market sees confirmation for a slower rate hike pace from yesterday's FOMC minutes and keeps selling the Dollar. Analysts now expect a rate hike of 50 basis points (increase to 4.5%) for the next FOMC meeting on December 14th.
From a technical point of view, the Dollar-Index (DXY) must break below the support zone around 105.30/00 for a deeper correction to 103/101. I think that's a likely scenario in the medium/long term, but the 105 could prove to be solid support for now. With the US market on thanksgiving holidays for the rest of the week, moves could become erratic. This offers opportunities and risks in equal measure.
EURUSD -- 1.0409
The currency pair made it above the 200 dma (1.0394) yesterday. Resistance can be found at 1.0481 and the psychologically interesting 1.0500 big figure. As this is the Euro's first attempt to clear the moving average line, I would be wary of going long here. That being said, I maintain that the Euro would be my least favorite currency to short the Dollar.
GBPUSD -- 1.2118
The Pound has had a decent rally against the Dollar since the October low. The question now is whether the 200 dma (1.2193) can stop this recovery or not. Taking profit in the direction of the average line certainly can't hurt.
AUDUSD -- 0.6745
The Aussie is a typical high beta currency but compared to the recent performance of the stock market it lags a bit behind. Small resistance can be found around 0.6793/98. In the longer picture, however, the 200 dma (0.6937) and the 50 ema (0.6575) are somewhat equidistant from each other. So at current spot you can also toss a coin to predict the next bigger move.
Good luck,
Sebbo