EURUSD, GBPUSD and USDJPY Talking Points:
- The US Dollar[1] has done very little since yesterday’s release of FOMC[2] meeting minutes, holding support around the 96.90 level and seeing a small bounce ahead of the US open.
- In a number of major pairs, digestion-based setups could offer near-term potential with USD themes[3]. In EUR/USD[4], the pair has stumbled after bouncing from a key area of support earlier this week. GBP/USD[5], on the other hand, is holding support at a key area as a descending triangle has built. And in USD/JPY[6], the pair is showing an inverse head and shoulders pattern, which may be pointing to bullish breakout potential in the pair.
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US Dollar Meanders After FOMC Minutes
US Dollar price action[14] has been rather unexciting in the aftermath of yesterday’s release of FOMC meeting minutes. After posing a mild bearish move around the release, support set-in around the 96.90 level with the currency catching a bump-higher as the US open neared. This keeps
