The US Dollar weakened overnight. The US employment data on Friday was solid, but since the market is already counting on a rate hike on Wednesday, it is not enough to keep the USD rally going.
The Euro broke above the level of 1.07 in Asia. It cleared a major resistance area between 1.0670 and 1.0680, and this signals that the rally could extend to 1.0825 soon.
Meanwhile, USD/JPY is likely to face further pressure soon. Support is seen at 114.00/20. Should it break below that, a deeper correction seems likely.
The Aussie Dollar bounced as well. The major support area between 0.75 and 0.7520 held, and it is on its way to test 0.76 again. Should it break above 0.7620 resistance, it could have another test of 0.7740 soon.
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