Dollar gains stretch in some pairs but pause in others
The Dollar is trading mixed as the Euro is slightly higher, benefiting from more bullish PMI readings earlier, but the general sentiment on EUR / USD is still very favorable to sellers.
A glance at the weekly chart illustrates this notion:
Meanwhile, the USD / JPY was initially supported in Asia and traded high at 115.15 only to touch a pocket of quick air in a drop to 114.50 before staying around. from levels 114.60-70 now.
Much like EUR / USD, dollar buyers are always favored but in this case there is key technical resistance at 114.74 and more significantly at 115.00 which limits gains.
Elsewhere, the dollar is trading up 20 pips against the British pound, with cable rising from 1.3400 to around 1.3375 while USD / CAD is up 0.2% to 1.2720 -30. The AUD / USD is however trading higher around 0.1% in light trading, holding around 0.7220-30 for the most part.
Overall, this simply indicates a slight pause in the dollar’s bull run as there is no indication of a reversal yet.
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