Dollar keeps in a firmer spot to start European trading

Technical Analysis

The dollar is holding gains across the board

The moves are modest but not really attracting too much attention for the time being, though NZD/USD is dragged down to 0.7240 from near 0.7300 earlier in the day. More on the technical implications for the move on the pair here.

Elsewhere, EUR/USD is keeping just below 1.2200 around 1.2175-85 while GBP/USD is keeping away from the 1.4200 level still for the time being:

That remains the key level to watch on the daily for cable before the 24 February high @ 1.4241 comes into play.

Despite BOE Vlieghe’s remarks yesterday, it isn’t quite enough to tip the scales for the pound but we will see how things shape up later in the day for the dollar as the US PCE data holds all the cards before the long weekend approaches.

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