This comes as we see a slightly softer risk mood, with broader markets still largely digesting the US CPI data from yesterday. The greenback is higher
This comes as we see a slightly softer risk mood, with broader markets still largely digesting the US CPI data from yesterday. The greenback is higher across the board with AUD/USD being the biggest loser, down 1.2% to 0.6900 currently:
That said, the pair is still sandwiched between key technical levels with offers lined up closer to 0.7000 and then there is the August highs at 0.7125-36 also still limiting any major upside momentum. Meanwhile, downside support is seen closer to the 19 January and 6 February lows at 0.6855-70 at the moment, before the 200-day moving average (blue line) at 0.6803 comes into play.
Elsewhere, EUR/USD is down 0.3% to 1.0703 and GBP/USD now down 0.7% to 1.2087 as the pound falls after the softer UK inflation numbers earlier. In any case, the dollar technicals that were highlighted here yesterday are still mostly holding up so far.
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