Dollar Weakness Continues
Dear Traders,
The greenback continued to weaken against the euro and British pound. While the euro was Thursday’s best performer, rising towards 1.0680 and providing euro bulls a good profit, there was less consistency in the performance of the pound sterling. The pound traded sideways after peaking at 1.2524 and buyers had to be content with a modest profit. U.K. Retail Sales are due for release at 9:30 UTC but this report is not expected to have a significant impact on the pound.
Apart from the second-tier U.K. Retail Sales report, there are no major economic reports scheduled for release today and thus, the price action might be oriented towards resistance- and support levels. Let’s have a look at the current important price levels:
| Resistances | Supports | |
| EUR/USD | 1.0705
1.0750 1.0775 |
1.0630
1.06 1.0550 |
| Resistances | Supports | |
| GBP/USD | 1.2550
1.26 1.2675 |
1.2440
1.2410 1.2330 |
We wish you a relaxing weekend.
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