Home Forex News The Dollar Found Support On Monday

The Dollar Found Support On Monday

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The dollar found support on Monday, as surging coronavirus cases in Europe and the United States and a lack of progress toward a U.S. stimulus package put traders in a cautious mood, although hopes for a Brexit trade deal held sterling steady.

The dollar found support on Monday, as surging coronavirus cases in Europe and the United States and a lack of progress toward a U.S. stimulus package put traders in a cautious mood, although hopes for a Brexit trade deal held sterling steady.Against a basket of currencies (=USD), the greenback traded between steady and slightly firmer early in the Asia session, hovering around the middle of a range it has held for months.Against the risk-sensitive Australian dollar and New Zealand dollars, it gained about 0.1%. Sterling , however, rose a tiny bit to $1.3046.

The United States has recorded its highest ever number of new COVID-19 cases for two consecutive days, while Italy has ordered restaurants and bars to shut by 6 p.m. as a fresh wave of infections sweeps Europe.

U.S. House Speaker Nancy Pelosi said on Sunday that she expected a White House response on Monday regarding the latest stimulus spending plan – but there have been few tangible signs that a long-stalled deal is actually nearer.

TREND : WEAK BEARISH / SIDEWAYS

Time                                      :           26/10/2020

Pivot                                     :          1.1839

Technical View                     :           LONG ABOVE 1.1859

Target                                   :           1.1879, 1.1902, 1.1915, 1.1964

Technical View                      :           SHORT BELOW 1.1839

Target                                   :           1.1819, 1.1789, 1.1762, 1.1738

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