Technical Analysis

Dollar keeps steadier so far to start the new week

The dollar is slightly higher going into European trading

The ranges for the day are still relatively narrow, but they are beginning to stretch a little with EUR/USD easing from 1.1870 to 1.1857 (still sitting in a 22 pips range though).

The greenback is also seeing mild gains against the pound and franc, while holding a slight advance against commodity currencies since Asia trading.

USD/CAD is up 0.2% just above 1.2470 but is facing some resistance from its 100-hour moving average for the time being:

The pair will be one to watch with the BOC policy meeting coming up on Wednesday.

Elsewhere, AUD/USD is down 0.2% to 0.7467 after failing to breach its 200-hour moving average @ 0.7491 on Friday with NZD/USD down 0.3% to session lows of 0.6971 currently and retreating after failing to push back above 0.7000.

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