The greenback stays more vulnerable with the Fed in focus today
EUR/USD is inching near the highs for the day around 1.2170 and nears the top of its recent range as the upside move continues to consolidate above 1.2100 for now.
Looking at the near-term chart, buyers are keeping near-term control this week as price action stays above the key hourly moving averages - now @ 1.2129-41.
However, short-term resistance around 1.2175-78 continues to limit gains and the cap could very well stay in place until we get to the Fed meeting later today.
AUD/USD is also near its recent highs of 0.7572-78 while USD/JPY is at the lows for the day around 103.45 with support seen from the early November lows closer to 103.17-18.
The moves so far today are rather mild but it reaffirms that the dollar remains in a vulnerable spot with the market eyeing the Fed decision in the trading day ahead.
