The Dollar starts the day at the weak side again after printing red daily candles yesterday and the day before. Nevertheless the Dollar-Index is holding up above the 96.60 support and it may be too early to call the end of the Dollar rally.
(source: fxstreet.com)
EURUSD -- 1.1223
The curreny pair reclaimed the 1.1200 treshold quickly yesterday after testing the low of last thursday previously. There is not much follow through today and 1.1250 works as a barrier for now. I am not sure if we have already seen the lows of the year and would therefore be very careful with longs. Next resistances are the minor 1.1280 resistance and the red descending trend line coming in at nearly the same level.
GBPUSD -- 1.3426
Sterling is also making little progress against the Dollar. The two highs of today (1.3437) and last friday (1.3439) together form the short-term resistance zone. Above the white descending trend line (1.3468 ish) I would start to reconsider the short-scenario but the 50 ema (1.3510) is actually the interesting level.
USDJPY -- 114.94
The important 115.52 level has held and the upside bias of the currency pair has ended for now. Below the mid Bollinger band (115.22) the pair should be offered. The next support is the 50 ema (114.83) and the green ascending trend line coming in around 114.10 ish today.
AUDUSD -- 0.7281
A big green daily candle pushed the currency pair finally above the 0.7224 resistance and Aussie is showing more strength this european morning. Next levels to the upside are 0.7314 (high of the year) and the 200 dma ( 0.7330). The pair is quite news driven so any position should be monitored tight.
Good luck,
Sebbo