Dollar managed to hold above the 104.70 figure to settle around the lower end of the intraday trading range
EURUSD
The US dollar finished higher on Wednesday to notch the third bullish session in a row. Earlier on Thursday, the USD index briefly jumped to the 104.93 zone before reversing abruptly as traders opted to take profit around the 105.00 psychological figure that capped gains. During the subsequent sell-off, the USD managed to hold above the 104.70 figure to settle around the lower end of the intraday trading range in recent trading. The technical outlook has deteriorated after a failure to break above the 105.00 figure. In recent trading, the dollar was changing hands around 104.78, shedding 0.15% on the day. A daily close below this region would add to short-term bearishness surrounding the buck. Meanwhile, EURUSD bounced after a plunge that was capped by the 1.0810 region earlier in the day. The pair trades below the 1.0850 zone, deciding on further direction. In European trading on Thursday, the single currency has settled around 1.0843, adding 0.20% on the day. On the weekly charts, the technical picture remains upbeat despite the recent slide.
GBPUSD
The pound keeps rallying since last week. GBPUSD shrugged off the recent pressure to see fresh two-month highs around 1.2763 during the previous session. The pair has settled above the 1.2700 level on Thursday even as buyers made a pause after rally. As such, the pair has settled around the upper end of the trading range, suggesting the upside bias could persist in the near term. In recent trading, GBPUSD has settled in positive territory, with downside pressure looking limited at this stage. In a wider picture, the technical outlook has improved after the latest ascent. The daily RSI is now slightly bullish in neutral territory, suggesting potential buyers could stay in the game in the immediate term. In recent trading, GBPUSD was changing hands around 1.2727, up 0.08% on the day. On the flip side, the immediate significant support is now represented by the 1.2700 region, followed by the 1.2670 zone.
USDJPY
USDJPY stays relatively positive on Thursday, extending its recovery from local lows seen around 153.60 last week. After a dip, the pair jumped back above the 156.00 figure, staying resilient these days. Earlier on Thursday, the ascent was capped by the 156.90 mark that represents the immediate upside target for the time being. The pair was last seen changing hands around 156.73, unchanged for the day. Now, the greenback needs to hold above the 156.50 region in order to stay afloat and made fresh bullish attempts, with multi-year highs around 160.00 in focus. The daily RSI stays directionless, suggesting the pair could refrain from decisive moves in the near term. Should the pressure reemerge, the dollar may derail the mentioned support area, followed by the 156.25 intermediate support, but it looks like the pair will resume the ascent after a pause.
XAUUSD
Gold prices extended the ascent at the start of the week to register fresh all-time highs. The bullion shrugged off the pressure to jump to $2,454 for the first time. Since then, the XAUUSD pair has retreated partially as prices are hesitating to extend the ascent, with the bullion holding below the mentioned historical highs. The downside potential looks limited at this stage, however. In recent deals, the XAUUSD pair was changing hands around $2,362, down 1.27% on the day. On the weekly timeframes, the technical picture has deteriorated somehow, with wider picture remaining upbeat after reaching fresh all-time highs. On the upside, the immediate significant target is now represented by the $2,400 zone, followed by the mentioned record tops. Downside risks look limited while above the $2,300 region. Should dollar demand reemerge in the near term, the bullion may see a deeper retreat.