December 8, 2022

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Dollar keeps post-FOMC advance in European morning trade so far

1 min read

The dollar is keeping firmer on the session

Though not trading at the highs earlier, the greenback is still keeping a solid advance across the board – notably against the euro, franc and loonie.

Even AUD/USD and NZD/USD have both pared their early gains against the greenback after more solid economic releases in Asia Pacific trading. The former is back down to 0.7600 from a high of 0.7645 with sellers looking to push for more:

AUD/USD D1 17-06

A break below the figure level sets the stage for a retest of daily support around 0.7563 with the 200-day moving average (blue line) seen @ 0.7548 as well as the 1 April low @ 0.7532 also key technical levels to pay attention to.

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