The Forex market has no major changes in the European session of Wednesday, with the dollar strong uptrend on all fronts, and naturally, with the leading currencies on the decline.
The euro was leading these movements, although it has not broken the low of the week so far, located at 1.2950. If this happens, the low will go smoothly to 1.2930 and 1.2905, next supports. However, technically there is a depletion of the lower euro in the short term, and is very likely to see an upward correction during the American session.
The British pound finally decided to follow the movements of other European currencies, and is close to 1.61, but not very prominent bearish. Like the EUR / USD, the 4 hour chart shows some reversal patterns that are able to change the course of the same during the next few hours.
We can see the low Canadian dollar affected by the weakness in oil prices. The Loonie began to show signs of weakness last week, and we expect a tour to take you to the area of 1.04 this month.
As the Australian dollar, one of the currencies chosen by traders in recent months, it is close to parity against the dollar, but will have strong support near 1.0025,and will target to a figure of below trend in the daily chart.
The only significant data expected during the American session is the oil inventory at 10:30 EST.