After yesterday's strong USD sell-off we've seen some retracement
It's been an understandable pause for breath and the jury remains out still. Good two-way business will please the intra-day traders but frustrate those looking for a one-way move.
EURUSD has fallen into the 1.1250 support area and GBPUSD 1.4400 before bouncing back to 1.1270 and 1.4430. Large EURGBP expiry today at 0.7812 having a controlling influence as per my previous post.
USDJPY running into good supply into 111.50 but anyway pegged back by ongoing year-end yen demand .
USDCAD has peaked at 1.3032 from 1.2980 as oil price drops but bases while AUDUSD has had a look at 0.7600-10 support before bouncing to 0.7630.
After such a big day it's only natural for some consolidation and we can expect more of the same for now.
