The Japanese yen remains the only decent mover so far today. And even then, USD/JPY is just settling back into its range over the last two weeks as seen here. The rest of the major currencies bloc is once again lacking much desire as we get things going in Europe.
Dollar pairs remain tightly bound for the most part, with light changes overall. EUR/USD is sitting up just 0.1% to 1.0816 in a less than 20 pips range. The 100 and 200-day moving averages at 1.0825-28 will be key technical levels to watch going into the daily close, with large option expiries seen at 1.0800 and 1.0865 on the day.
The commodity currencies are at least ones that have kept things interesting this week. However, they aren’t showing much signs of life so far today.
USD/CAD is holding around its highest levels for the year just below 1.3600 for now, hoping to keep a break above its 13 February high of 1.3586. Meanwhile, AUD/USD is down on the week but struggling to shake off the 0.6500 mark for now.
Elsewhere, NZD/USD has dropped after the RBNZ policy meeting and is now contesting the 100 and 200-day moving averages at 0.6073-87. So, at least that is keeping things somewhat interesting on the week. A break below the key technical region above will once again set up for a retest of the recent lows near 0.6050.
