US Dollar, EUR/USD, GBP/USD, AUD/USD Talking Points:
- The US Dollar continues to hang around longer-term support.
- EUR/USD remains in a range, and range continuation in EUR/USD could be attractive for those looking at long-USD scenarios.
- GBP/USD has a bullish backdrop as a series of higher-lows goes along with a re-test of a key spot of resistance. Can bulls break through this time?
- The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
This is the same trendline projection that had come into play around the September open, helping to arrest a six-month-sell-off in USD before a bounce showed up in October. That bounce was short-lived, however, and as election results got priced into FX markets, the US Dollar went right back into drop mode and has re-engaged with this bearish trendline.
US Dollar Monthly Price Chart: Digging into Support
EUR/USD Remains in Range – Can Buyers Push Through
Of USD major pairs that may be attractive for USD-strength, whether that’s a mild bounce or the start of a