USD Weak Starting EU Session Today
The USD & JPY are weak going into the start of Europe Trading Session today. In recent days we’ve seen the USDCHF have some extended downside, and the EURUSD has finally made some gains, recovering some of the ground lost this year. AUDUSD has bounced from a support trendline and is nearing the end of a wedge pattern. USD traders should keep an eye out for Fed Chair Powell’s speech later today! Technically the EURUSD seems to be trading above the 1h moving averages, with the 500MA & 50MA both being immediate support.