The greenback extended the ascent towards the 105.30 zone for the first time in nearly a month
EURUSD
The US dollar finished higher on Friday to see a spectacular rally in the aftermath of a strong US jobs report. After a brief dip towards local lows around 104.00, the greenback jumped back to the 105.00 barrier that has turned back into support on Monday. At the start of the week, the dollar extended the ascent towards the 105.30 zone for the first time in nearly a month. The USD index stays bullish during the European hours, oscillating above the 105.00 psychological figure as risk aversion dominates global financial markets. In recent trading, the dollar was changing hands around 105.17, up 0.27% on the day. Meanwhile, EURUSD stays pressured after a major sell-off witnessed on Friday. The pair holds above the 1.00750 zone, staying on the defensive these days. In European trading on Monday, the single currency has settled around 1.0765, shedding 0.33% on the day. On the weekly charts, the broader technical picture turned negative after the recent slide.
GBPUSD
The pound plunged from more than two-month highs last week, staying under some pressure on Monday. GBPUSD saw fresh highs around 1.2820 to retreat to the 1.2700 zone eventually. The cable has settled slightly above this level on Monday, with buyers cautious after the recent slide. As such, the pair came off the upper end of the trading range, suggesting the downside bias could persist in the near term. In recent trading, GBPUSD has settled in negative territory, with downside pressure limited at this stage. In a wider picture, the technical outlook looks neutral despite the recent slide. The daily RSI is now slightly bearish in neutral territory, suggesting potential sellers could stay in the game in the immediate term. In recent trading, GBPUSD was changing hands around 1.2723, down 0.03% on the day. On the flip side, the immediate significant support is now represented by the 1.2700 region.
USDJPY
USDJPY rallied ahead of the weekend to recover from mid-May lows registered in the 154.55 region, with bullish bias persisting on Monday. As the upside momentum reemerged, the pair stays elevated after recovery from the mentioned local lows. After a dip, the pair jumped back above the 156.00 figure, challenging the 157.00 barrier at the start of the week. The latest ascent was capped by the 157.20 zone, while the greenback now needs to regain the 157.00 figure on a daily closing basis. The pair was last seen changing hands around 156.92, up 0.14% on the day. Now, the greenback needs to hold above the 156.70 region in order to stay afloat and make fresh bullish attempts, with multi-year highs around 160.00 in focus. The daily RSI stays bullish, suggesting the pair could refrain from sustained bearish attempts in the near term. Should the pressure reemerge, the dollar may derail the mentioned support, but it looks like the pair will extend the ascent in the days to come.
XAUUSD
Gold prices have steadied on Monday after a solid sell-off on Friday amid the rallying dollar. The bullion keeps struggling, staying under a modest bearish pressure, with $2,300 representing the intermediate support on the way to fresh local lows. Now, the XAUUSD pair needs some momentum to make a bounce, with prices struggling for direction so far today. The downside potential looks limited at this stage, however. In recent deals, the XAUUSD pair was changing hands around $2,312, down 0.1% on the day. On the weekly timeframes, the technical picture has deteriorated marginally, with wider picture remaining upbeat after reaching fresh all-time highs. On the upside, the immediate significant target is now represented by the $2,320 zone, followed by the $2,350 region. Downside risks look limited while above the $2,300 figure. Should dollar demand persist in the near term, the bullion may see another retreat towards the $2,285 zone that capped losses in early-May.
