At time of writing EURUSD is trading around 1.1310 just 10 to 20 pips away from the resistance zone we have defined yesterday. That move up from last fridays low 1.1121 was quick and I would reduce any Euro exposure ahead of that level. For now there is no reason to believe Lagarde is not going to keep her dovish stance even with the rocket high CPI print of 5.1% YoY (vs. 4.4%).
The Dollar Index showed some follow through to the downside yesterday and this am and is trading below the 96.00 treshold. I wouldn't be surprised if the dollar weakness stops here for now. This also might affect other Dollar crosses.
GBPUSD is up 200 pips since last friday and the strong rally could be capped by 1.3560 (mid Bollinger band). Another test of the 200 dma (1.3715) is on the agenda above that resistance.
The Aussie has been soaring against the Dollar either. The currency pair is up 2.6% since the low of friday (0.6967). The next resistance can be found around 0.7166 (mid Bollinger band) and 0.7170 (several highs and lows). With respect to the RBA Governor Lowe who was very dovish again in its statement of the Reserve Bank Board Meeting this very early morning the rally in AUDUSD is not necessarily justified.
Good luck,
Sebbo