December 9, 2022

Forex Solution

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Dollar keeps weaker to start the session

1 min read

The dollar is trading near its lowest levels for the year

The greenback is on the backfoot across the board as it continues where it left off at the end of trading last week. The technicals are going to be key for the dollar in the next few days and could precipitate further weakness when push comes to shove.

EUR/USD is closing in on the 1.2200 level, where a break could see upside accelerate.

Similarly, GBP/USD looks poised to at least test the highs for the year and a close above 1.4200 will put buyers in prime position to extend the recent run.

Elsewhere, AUD/USD is running into familiar resistance in and around 0.7800 and while the pair may have flirted with a breakout earlier in the month, the hold of the 100-day moving average (red line) is encouraging for buyers to try and take another shot.

EUR/USD D1 18-05

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