Dollar continues to hold slight advance on the session

Technical Analysis

But there is still seemingly some lack of conviction all around

The greenback is sitting slightly higher in European morning trade but it isn’t really pushing any fresh boundaries against the major currencies bloc.

EUR/USD continues to hold around 1.2180-90 levels for now but the range is similar to what we saw yesterday. GBP/USD was nudged lower to 1.4145 earlier but has since recovered to be near flat levels around 1.4175-80 after the UK PMI beat.

Elsewhere, AUD/USD continues to be rather lackluster as it bounces off the lows yesterday and is still keeping within a range of around 0.7720 to 0.7770 this week:

The fact that the chart reflects choppy and directionless movement for the past three weeks does say something about market sentiment at the moment.

A lot of anticipation rests on tomorrow’s US non-farm payrolls but barring any kneejerk and short-term reactions, I don’t see how one data point – a hit or a miss – is going to change much of the bigger picture as things stand.

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