With US coming back from holidays today market participants are waiting for confirmation of the recent Dollar weakness. Thin holiday trading can proof wrong but from a technical perspective there are some hurdles for the Dollar.
At time of writing the Dollar-Index trades at 96.185 still in bullish territory above 95 but 0.80% from the recent high (96.942) away. The daily candle is already red and DXY should not fall below the 96 mark.
EURUSD -- 1.1291
The currency pair is supported above the 1.1260/55 level. Euro bears need a daily close below that support for a possible new test of 1.1186 (year low 24nov). The next real resistance can be found around the 1.1375 mark.
USDCHF -- 0.9245
The rally of the swiss Franc especially fueled by the risk off market last friday stopped above the 50 ema (0.9227) and the mid Bollinger band (0.9229). If risk markets keep its positive mood today the bounce in the currency pair could go higher. Anyway any rally should be capped by the red descending line for now (around 0.9300/05 today).
USDJPY -- 113.49
Risk off markets are good for safe-haven currencies like the YEN. With a weekly close below 113.75 the pair has entered bearish territory on the weekly chart. The daily chart picture shows first bigger support around 113.22 (50 ema) followed by the month low at 112.72 (09nov). Above the mid Bolliner band (114.11) the bearish scenario must be questioned.
Good luck,
Sebbo