Another case of the summer lull casting itself over Europe today
The greenback is mostly little changed across the board, though the euro and yen are keeping mild gains of 0.1% against the dollar in European morning trade so far.
That said, the moves aren’t anything significant with EUR/USD still keeping below the resistance region around 1.1750-55 as sellers stay in search of a push lower. That said, support near 1.1700 at the 1.1704-11 region is still holding, so there’s that.
Near-term support closer to 110.00 defines the risk for any upside move but for now, buyers will also need to try and work past resistance levels @ 110.59 and 110.70.
Besides that, other dollar pairs are more subdued as narrow ranges continue to prevail for the most part. Cable did tip lower slightly to fresh lows in over two weeks below 1.3800 but the 200-day moving average is seen @ 1.3769 so that is the key technical level to watch in case of any further drop in the pound against the dollar.
