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US Dollar Stares into the Abyss: AUD/USD and EUR/USD

US Dollar Stares into the Abyss: AUD/USD and EUR/USD

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- US Dollar consolidates versus its major counterparts.

- Both EURUSD and GBPUSD nearing decision levels.

- AUDUSD could be working an Inverse H&S for 0.9500.

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The US Dollar is little changed the past day as traders trim positioning during a week lacking significant headline event risk. While there are a few "high" importance data points that dot the schedule [Read more: DailyFX Economic Calendar], this is an ideal time to strategize and plot the levels for moves that may not necessarily play out today, but could once a catalyst arrives over the next several days.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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