The dollar hovered near two-week lows against a basket of currencies on Tuesday, as investors looked to U.S. jobs figures later this week for clues on taper timing, while the Chinese Yuan shrugged off soft factory and services sector surveys.
The U.S. currency steadied from falls after Federal Reserve Chair Jerome Powell on Friday offered no signal on when the central bank plans to cut its asset purchases beyond saying it could be "this year."
The payroll data will be the next highlight given the focus on the Fed's taper. A strong reading will boost expectations the Fed will give markets prior notice in September before a formal decision in November.
The market is still within an up trend, but the overbought status for the last 2 days warns for a correction phase along 1.1760 - 1.1714. A close under 1.1730 is needed to start a bear turnover ⇒ 1.1665.
Resistance 2 1.1840
Resistance 1 1.1820
Support 1 1.1777
Support 2 1.1757