On Monday the Euro/Dollar traded within 80 pip range. The European currency depreciated from 1.4578 to 1.4495 yesterday, not matching the positive Interbank sentiment projection at over +3%, closing the day at 1.4538. This morning the European currency descended after the S&P comments, dropping down to 1.4469.

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EUR/USD Pull Back Off One Month High On S&P Comments
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The U.S. dollar index gains against major rivals, with investors still wary about Europe’s sovereign-debt problems after comments by S&P.

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Currencies: U.S. dollar gains against major rivals
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The Reserve Bank of Australia held its benchmark rate for the seventh straight session at 4.75% citing reduced inflation expectations. However, worries that the global economy may grow slower than previously expected sapped risk appetite and bids for the AUD.

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Australian Dollar Weakens as Bank Sees Softer Inflation, Global Growth
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* Short squeeze in the dollar pulls euro off 1-mth highs * Expected rate hike by ECB to keep euro dips shallow * Aussie hampered by weak data, stop loss-selling * RBA eyed, set to keep rates unchanged …

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FOREX-Euro backs off 1-month high on dollar short squeeze
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Looking at the 4H chart, we see the AUD/USD possibly capitulating a sharp reversal swing that started last week from near 1.04. Notice that the the rally broke above a channel after it completed a 5-wave (abcde) structure. Note also that the RSI never broke below 30 to establish bearish

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AUD/USD Elliott Wave Structure And Technicals Bullish Ahead Of The RBA Meeting
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The Australian dollar declined 0.1% to $1.0726 on Tuesday ahead of an interest rate decision due later in the session from the Reserve Bank of Australia. Weak retail sales and building approval figures out Monday “further reinforce our view that the economy is far from over-heating and that there is no urgency for the RBA to hike rates,” said economists at Goldman Sachs.

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Australian dollar lower ahead of RBA decision
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The opening trading day to the week was an unusual one.

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FOREX: Dollar Can’t Recover Ground on Holiday Trading Conditions
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* S&P warning on Greece seen a small setback for euro * Expected rate hike by ECB keeping euro dips shallow * Aussie hampered by weak data, RBA set to keep ratesunchanged By Ian Chua SYDNEY, July 5 (Reuters) …

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FOREX-Euro resilient, counts on hawkish ECB
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The U.S. dollar index gains against major rivals, with investors still wary about Europe’s sovereign-debt problems after comments by S&P.

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U.S. dollar gains against major rivals
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Use strong currencies for portfolio insurance in July.

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Where to hide if you hate the dollar and the euro
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