USD: Bullish
Federal Reserve Chairman Ben Bernanke will deliver his semi-annual testimony in Congress during today’s US session and possibly talk about the previously released FOMC meeting minutes, wherein the policymakers showed an inclination for an early tapering off of asset purchases.
GBP/USD made a huge gap down over the weekend but price pulled right back up and the pair starting to close the gap completely.
USD: Neutral
There are a few major U.S. economic releases due this week, such as the CB consumer confidence data and the ISM manufacturing PMI, and these could either confirm or reverse the pro-dollar bias that the FOMC meeting minutes resulted in last week.
EUR/USD consolidated around the 1.3150 and 1.3200 major and minor psychological support levels at the end of last week and continues to move sideways in that area today.
USD: Bullish
While some traders booked profits after the FOMC sparked a strong dollar selloff, it seems that most of the anti-dollar rallies that took place yesterday were mere retracements.
There might be a chance to catch the GBP/USD selloff at a better price today as the pair appears to be retracing to the 38.2% Fibonacci level on the 4-hour time frame.
USD: Bullish
The minutes of the latest FOMC meeting caused quite a ruckus in the currency market as policymakers showed signs of hawkishness for the U.S. economy.
GBP/USD just broke below the long-term support at 1.5350 and the next area of support is around 1.5000 then at 1.4300.
USD: Bullish
The U.S. dollar could be in for a bit of consolidation against its major currency counterparts until the big reports are released during the New York session.
NZD/USD’s uptrend is still intact as the rising channel on the 4-hour chart seems to be holding.