Technical Analysis

Dollar holds its ground for the time being

Two key cards to track the dollar next week

The green back has prevented a further decline towards the end of last week and will remain stronger today. During the thin trading holidays, the major currencies have changed little, but much remains to be done next week.

Instead, the dollar has two key levels to monitor in the form of EUR / USD and GBP / USD, should an even more negative side await return in the coming days.

EUR / USD D1 24-05

For the EUR / USD, the highest value on February 25, @ 1.2243, remains the main level of resistance that limits the recent movement of the top, so it is key if the pair tries to push for an even higher push at the end of the month.

GBP / USD D1 24-05

In the meantime, at the end of last week, GBP / USD had just been shy when trying the highest price on February 24, @ 1.4241, and the price has risen slightly since then. However, this remains a key resistance if buyers try to get on the agenda in the coming days.

Elsewhere, also monitor the level of USD / CAD as the main support area at 1.2000.

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