Dollar catches a light bid on the session

Technical Analysis

The greenback inches slightly higher across the board

This comes as US futures are hitting the lows for the day, with S&P 500 futures now down by a little over 0.8%. As such, the dollar is firming with AUD/USD falling to a low of 0.6976:
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AUD/USD H1 16-07

The pair failed to hold a break above daily resistance @ 0.7032 yesterday and is falling back under 0.7000 towards a test of the key hourly moving averages again now.

The 100 and 200-hour MAs are seen nearby @ 0.6968-73 at the moment. Those will be the key near-term levels to watch in the sessions ahead.

Stay above that and the near-term bias remains more bullish, but break back below and the near-term bias will turn more bearish instead with sellers seizing control.

Other dollar pairs are also firming in favour of the greenback with EUR/USD now down to a low of 1.1386 and cable easing to a low of 1.2527 on the session.

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