dollar, with the exchange rate rising to a two-week high of 1.0406 however, the two-day rally looks to be losing steam as the pair moves nearly 95% of its average true range
. As a result, the dollar-franc may hold a narrow range throughout the day as the 30-minute RSI approaches overbought territory, and we may see the pair fall back over the week to cover divergence from the 100-SMA at 1.0325.
The GBP/USD has moved nearly 85% of its average true range
and still has some room to push lower following the slump in risk appetite, and we may see the pair continue to search for a bottom over the following week as investors scale back long-term expectations for higher interest rates in the U.K.
However, the kiwi-dollar has moved nearly 200% of its daily average true range
, with the daily RSI rising to 71 following the 150+pip rise, and the overnight rally looks to be losing steam as economists forecast New Zealand's growth rate to contract 0.2% in the second-quarter.
Summary: Despite recent volatility, EUR/USD may still provide an ideal environment for scalping strategies as the pair continues to see its Average True Range
The GBP/USD has moved nearly 60% of its average true range
after finding support ahead of the 20-Day moving average at 1.6415, and has climbed back above the 50-Day (1.6476) during the early hours of the North American session.
At 55 bps the pair's average true range
(ATR) is far below that of other major pair's.