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USD/MXN trades with a neutral bias, oscillating between small gains and losses in the absence of volatility drivers as investors eye new Covid-19 developments.

Australian Dollar is poised to mark a fourth weekly plunge into critical technical support at fresh yearly lows. The battle lines are drawn on the AUD/USD weekly chart.

Both GBP/JPY and GBP/USD have rebounded from critical technical support, suggesting that further losses may be contained.

Canadian Dollar is poised to snap a three-week losing streak as USD/CAD reverses off technical resistance. Levels that matter on the Loonie charts into the weekly close.

Unsurprisingly, the SARB has maintained rates at 3.5%. USD/ZAR was unmoved by the announcement which shifts focus to dollar influences over the next two weeks.

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.

Short selling is rather controversial but can form part of a well-thought out trading strategy

Gold and silver still look like they may be headed lower, with the latter having the stronger bias.

EUR/USD jumps then reverses as ECB delivered another dovish policy meeting

Lumber and Silver remain supported despite a pullback in prices. With weather concerns and inflation weighing on commodities, technicals provide key levels to watch.