Dollar stays on the backfoot as the post-Fed vibes continue
The greenback is staying on defensive to start the session, falling to fresh session lows now as major currencies begin to extend their respective ranges today.
GBP/USD is up to 1.3950 with buyers looking to target 1.4000 next. Meanwhile, EUR/USD is up to fresh two-week highs of 1.1869 but keep in mind that there are large expiries layered between here and 1.1900 that could limit any major upside push.
Elsewhere, AUD/USD is closing back in on 0.7400 while NZD/USD is up 0.5% to 0.6985 currently, with the latter contesting trendline resistance @ 0.6981 on the day.
USD/CAD is also building further downside momentum as it falls to 1.2472 – breaching below 1.2500 and the 38.2 retracement level of the recent upswing @ 1.2501.
Further key support is seen closer to 1.2400 in the pair though there are some minor support levels seen around 1.2420 to 1.2440 as well for the time being.
This article was originally published by Forexlive.com. Read the original article here.