NEW YORK ( TheStreet) -- Since wrapping up the first half of the year, currency markets generally have traded sideways, looking for the momentum that can break and hold a move away from the daily neutral pivot points. There is a short-dollar look and feel to the market, but as yet the decisive break-and-hold seems to be impeded by global equity markets that just cannot attract enough speculative and institutional interest to trust the global growth story. The euro/dollar (Eur/Usd) currency pair looks to have solid support at 1.2550. Any test of that looks to draw in a buy-support play. The pound/dollar (Gbp/Usd) currency pair has flatlined for five days, and a break above 1.5070 may just be the one that retests 1.5250 and above. The Australian dollar/dollar (Aud/Usd) currency pair broke six sessions of sideways moves on the strength of the employment data overnight and will draw in buyers when 0.8600 is tested as support. The dollar/Canadian dollar (Usd/Cad) currency pair has dismissed poor near-term Canadian economic releases and tested support that was set six sessions ago. In doing so, it has created a 30-minute chart that looks like an Olympic ski run with solid support at 1.0490. The dollar/Swiss franc (Usd/Chf) currency pair and dollar/yen (Usd/Jpy) currency pair are still showing interest rate-related short-dollar trends, and both look oversold to the degree that speculative interest may start to nibble on the long side.
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