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AUD/USD traded unevenly as the US dollar recovered modestly and traders waited for a busy run of US macroeconomic releases. Technical traders are watching whether the pair can hold above its 50-period EMA and retest last week’s 0.7180 high, with 0.7250 seen as a potential upside level if momentum improves.

EUR/USD has retreated to 1.1575 after touching its highest level since June, with traders assessing shifting Federal Reserve and ECB expectations. Technical traders are watching whether a shooting star pattern triggers a pullback toward 1.1500 or whether a break above 1.1615 revives upside momentum.

EUR/USD advanced to its highest level since June 17 after weak US macro data weighed on the dollar and reduced pressure on the Federal Reserve to raise interest rates. Technical traders are watching a bullish flag structure, with a break above 1.1600 seen as a potential confirmation signal for a move toward 1.1650.

The US dollar gained ground after Michigan Consumer Sentiment improved more than analysts expected, reinforcing near term demand for the American currency. Major pairs remained technically sensitive, with EUR/USD near support, GBP/USD under pressure, USD/CAD testing downside levels and USD/JPY close to multi decade highs.