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USD: A negative start for the Dollar

USD
USBulletMarketsForeign Exchange BulletsNorth America
  • The Dollar is in the red going into the European session, the mains story overnight has been the German Election with Desks now seeing a CDU/CSU and SPD coalition as the most likely outcome.
  • The EUR has been supported and has managed a test to 1.0500.
  • The overnight high of 1.0528 was the best printed level since 27th January, and while some will look at 1.0533 High Jan 27 and a reversal trigger as the initial resistance, better is seen at the 1.0539 mark.
  • The Yen is small worst performer, albeit by just 0.15%, and overall the Japanese Yen has gained 1002 pips versus the Dollar since the 10th January.
  • Support in USDJPY will be at the overnight printed low of 148.85, followed by 148.65 Low Dec 3 ‘24 and a key support.
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  • The Dollar is in the red going into the European session, the mains story overnight has been the German Election with Desks now seeing a CDU/CSU and SPD coalition as the most likely outcome.
  • The EUR has been supported and has managed a test to 1.0500.
  • The overnight high of 1.0528 was the best printed level since 27th January, and while some will look at 1.0533 High Jan 27 and a reversal trigger as the initial resistance, better is seen at the 1.0539 mark.
  • The Yen is small worst performer, albeit by just 0.15%, and overall the Japanese Yen has gained 1002 pips versus the Dollar since the 10th January.
  • Support in USDJPY will be at the overnight printed low of 148.85, followed by 148.65 Low Dec 3 ‘24 and a key support.