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Can Dollar Hold Ground?

Written by ForexCult Team
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Dollar selling still continue, and this week we're seeing more and more of it, but the pair had a hard time clearing the 1.5850 resistance level on the way to challenging the 1.5900 all time highs against the euro. Perhaps the bears are starting to run out of steam. Certainly the economic data gave them little to chew on this week. Overall the results were a bit mixed as housing data and personal income showed some mild improvement but Durable goods once again missed to the downside. At best one could say that the US fundamentals have not become dramatically worse and that was enough to keep dollar bears at bay. The pair remains at standstill as traders look for new themes to develop. Last week we noticed that With EURUSD having run out of stream at 1.5900 early last week