Trading is generally subdued in Asian session today, with little reactions to the G7 summit. Also, China and Hong Kong are on a one-day holiday. Commodity currencies are mildly firmer while Swiss Franc and Yen are softer. But all major pairs and crosses are stuck inside Friday’s range. Instead, more volatility is seen in oil, gold, and also bitcoin. Markets will keenly look into this week’s FOMC statement and projections for more guidance.

Technically, directions in the forex markets are not too clear for most pairs and crosses. One question remains on whether Dollar is in for a more sustainable rebound. But some levels needed to be taken out first to give us more confidence on it. The levels include 1.4072 support in GBP/USD, 0.7644 support in AUD/USD, 0.9052 resistance in USD/CHF and 1.2201 resistance in USD/CAD.

source_https://www.actionforex.com/