EUR/USD and GBP/USD try to halt losses, while USD/CAD falls back
Both the euro and sterling are attempting to stem the downside against the dollar, while the US dollar is dropping back against the Canadian dollar.
EUR/USD holds at December support
EUR/USD has returned to the $1.095 level that marked support in early December.
A close back above $1.08 might suggest that a low has formed, though trendline resistance from the December high would need to be breached, as well as the run of lower intraday highs over the past month.
Additional declines take the price towards $1.067 and then $1.0536.
GBP/USD drops back from recent range
Two sharp days of losses have shaken GBP/USD out of the range seen since mid-December.
But with the pair moving higher on Tuesday, a rebound could be in store. A longer-term move higher needs to clear $1.28, in order to suggest that this upside barrier has been broken.
Sellers will want to see a close below $1.25 to suggest that a further push towards the October lows is developing.
USD/CAD bounce hits selling
After gaining over the first two days of the week the price has faltered with USD/CAD.
It has dropped back below the mid-January highs around C$1.3526. Further losses target the late-January low just above C$1.335.
A renewed push higher targets C$1.362.
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