The EUR/USD climbed to the 1.3192 level early in today's European session, the highest it has been in about a month. The pair is currently trading at the 1.3171 level. While there are no crucial data coming out today from either the Eurozone or US, there will be reports from the Chicago Fed and Existing Homes Sales Change from the US later this afternoon.
Initial resistance for the EUR/USD is at 1.3183, followed by 1.3215. Meanwhile, initial support is at 1.3115, followed by 1.3083.
The AUD/USD was also off to a good start this week. It opened at the 0.9195 level at the Asian session, before dropping to 0.9186 at the start of the European session. It has since made a steady recovery and is currently trading at the 0.9226 level.
As for relevant news, the pair is awaiting CPI data from Australia on Wednesday, which could provide a good indicator on whether the RBA will announce a rate cut on August 6.
Initial resistance for the AUD/USD is at 0.9246, followed by 0.9269. Meanwhile, initial support is at 0.9163, followed by 0.9140.
As for the USD/CAD, the pair has been on a steady drop so far today, although it has made a slight recovery over the past 30 minutes. The pair opened at 1.0362 at the start of the Asian session before sliding 1.0333 at the start of the European session. It has managed to climb back and is currently trading at 1.0340.
Initial resistance for the pair is at 1.0382, followed by 1.0407. Meanwhile, initial support is at 1.0342, followed by 1.0316.
Finally, the GBP/USD has made gains during today's trading. After opening the Asian session at 1.51267, it has managed to climb up early in the European session. It is currently trading at the 1.5331 level.
Initial resistance for the pair is at 1.5318, followed by 1.5356. Meanwhile, initial support is at 1.5232, followed by 1.5194.
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