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USD Mid-day Analysis

There are a number of geopolitical issues and angles that leave the Dollar in control at the start of thenew trading week.

In addition to ongoing US Dollar pressure, the Canadian is also undermined by renewed Ukrainian tensions and

A bank holiday has probably narrowed the early range in the Pound today and that in turn that might have allowed for

EUR/USD continues to move lower. The recentnew lows confirm persistent selling pressures.

EURUSD fell to 1.3205 and USDJPY rose to 104.22, but AUDUSD managed to rally back to 0.9316 after opening weaker.

EURUSD: The correction attempt faded faster than expected asalready the 1.3289/98 resistance became a too big obstacleto overcome.

Risk sentiment got hit on Friday by news that a Russian aid convoy had crossed Ukrainian border without permission from Kiev.

Focus is likely to be on comments from the Jackson Hole Central Bank conference.Especially Draghi’s dovish ones are likely to be in focus.

After having struggled at the 21-DMA early last week the sell-off gathered momentum Thursday with

The pair opened at $0.9315 this morning after Friday’s $0.9293 to $0.9323 range during the US hours.

Initial resistance remains noted in the $94.22-45 region to start the new week with

Fresh 2014 and 11 month lows continue for the EUR/USD with bears initially focused on the $1.3079-1.3101 region.