The major pairs are trading around their Friday U.S. session highs/lows in Asian trade, and are showing initial Usd buying in reaction to lower equity and oil markets. We are monitoring the S&P futures market, currently trading at 852, and the ability to hold support at 845. A move either side of that area on increasing volume will likely draw in Usd momentum; sub 845 on the S&P futures will likely allow the dollar to find buyers, whilst a break higher through 860 will send the dollar lower.
It is a quiet start to the economic calendar week, until Wednesday comes alive with a U.S. rate decision and statement. Euro, cable, and aussie look more bearish than swissy, yen, and cad look bullish, and that is a strange thing to see; typical Sunday/Monday transition with the battle to set fair value on the dollar in play. Traders may be looking again for the next flow of momentum as the afternoon Japanese session takes place.