Dollar creeps a little higher ahead of North American trading

Technical Analysis

EUR/USD eases to session lows of 1.2067

It has been a relatively choppy session for major currencies as the dollar rocks back and forth on the session with little firm direction really.

EUR/USD H1 03-03

EUR/USD touched 1.2100 early on before retreating to 1.2080 and then caught a bounce on the ECB report earlier as the dollar also slipped. The pair touched a high of 1.2113 but then fell back below its 100-hour moving average (red line) again.

Sellers are back in near-term control now as price eases to a low of 1.2067.

It is a similar story elsewhere with GBP/USD falling from 1.4000 to 1.3950 and AUD/USD seeing earlier gains pull back from 0.7835 to 0.7810 currently.

It is tough to make much of the moves in the major currencies bloc over the past few sessions as equities have been rather choppy this week and the bond market is also not offering a whole lot since the selloff last week.

10-year Treasury yields peaked at around 1.45% earlier in the session and that continues to be a key line in the sand with yields not really breaching that – at least not in a firm manner – as it keeps in and around 1.40% and 1.45% this week.

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