here, as it appears Trump's team is still concocting something on the tariffs front. They are exploring different options before rolling things out but knowing Trump, he will at least want to put on a big show. Or at least try and talk that up.
After the retreat yesterday, the greenback is instead now seeking validation to keep up with the positive momentum to start the new year. Taking a look at the near-term charts:
Meanwhile, AUD/USD is facing up against a test of its own 200-hour moving average (blue line) at 0.6206. Keep below that and sellers will still have some voice in trying to wrestle back near-term control of the pair. But break above that and buyers will instead establish a more bullish near-term bias.
Looking elsewhere, GBP/USD is keeping a downside bias still but is seeing a modest bounce off the low of 1.2100 yesterday to trade at 1.2210 now. As for USD/JPY, the pair continues to track more sideways as it nudges between 157.00 to 158.00 to start the new week.
This article was written by Justin Low at www.forexlive.com. Read More Details
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