The dollar looked to be making strides yesterday before Fed governor Waller opened the can of worms on a suggestion to cut rates in July here. The greenback fell a little although Fed funds futures are still holding the line in not expecting a rate cut at the end of this month. The view here is the the dovish take by Waller is the outlier, more so than any real consensus at the Fed.
As such, the drop in the dollar is likely to be contained. In the case of EUR/USD, the expiries above will help to limit the overall movement as well. But from a technical perspective, the 100-hour moving average at 1.1634 is a key near-term spot to watch before any real push and pull from the expiries at 1.1650.
For more information on how to use this data, you may refer to this post here.
P/S: The new colour changes are all a work in progress as we transition to investingLive. I've tweaked it a bit today to try and improve readability. Any feedback would be very much appreciated. Thanks!
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