In early US session, Dollar is still trading as one of the strongest major currencies for the week, together with Canadian Dollar and Swiss Franc. However, it's clearly losing some steam today and it's in red against all others at the time of writing. One factor that triggered an immediately setback in greenback's rally is China's measure to halt Yuan's decline. Another factor is that the highly anticipated non-farm payroll report is just mixed. For today, Dollar is now the weakest one, followed by Sterling. Aussie, Kiwi and Loonie are all strong. For the week, Canadian Dollar is the strongest one, followed by Dollar and Swiss Franc. Sterling is still the weakest one, followed by New Zealand Dollar and then Euro. Technically, EUR/USD breached 1.5174 minor support but there is no follow through selling yet. Without downside acceleration, consolidation pattern from 1.1509 will likely extend further. USD/CAD's recovery completed at 1.3024 and it's probably resuming recent fall from 1.3385, But we'd be aware of loss of downside momentum ahead for USD/CAD. EUR/AUD is a pair to watch. It's now trading at 1.5681, very close to 1.5651 near term support. As long as 1.5651 holds, we'd stay bullish in EUR/AUD for another rise through 1.5888 resistance. However, break of 1.5651 will indicate near term bearish reversal. |