December 4, 2022

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Dollar having a bit of a mixed showing so far on the day

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A mixed session so far for the greenback

The dollar is trimming losses slightly against the euro and franc but is still keeping lower against both currencies, and is now grinding a slight advance against the rest of the major currencies bloc in European morning trade.

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GBP/USD has eased a little back under 1.4100 though key support is still seen closer around 1.4073-86 while AUD/USD has also slipped just below 0.7700 for now:

AUD/USD H1 15-06

The latter is testing the lows from Friday but in the context of the past few weeks, none of these moves are really breaking out of range to be fair.

USD/CAD is also up a little to 1.2165 with minor resistance seen closer to 1.2170-77 before further resistance is seen at 1.2200.

I wouldn’t look too much into any of these moves for the time being unless they start to chip away at key technical levels. The FOMC meeting tomorrow still holds all the cards.




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