Major currencies see little change in general

The dollar isn't really doing much as the market is playing the waiting game ahead of Fed chair Powell's speech later in the day. European indices are slightly softer on the session after a flatter start but nothing too significant.

Elsewhere, US futures are down ~0.2% - not really hinting at much - while gold is also a touch weaker at around $1,945 as the session gets underway.

EUR/USD is pretty much flat at around 1.1830, trapped within a 33 pips range so far:

EUR/USD H1 27-08

The near-term chart shows that price action is caught in between both key hourly moving averages and that suggests that the near-term bias is more neutral for now.

Meanwhile, the aussie is slightly higher on the session but price action is not really breaking out from a technical perspective:

AUD/USD H1 27-08

The near-term bias continues to favour buyers upon a break of the 200-hour MA (blue line) in trading yesterday but daily resistance around 0.7265-80 remains a key spot to watch in the sessions ahead.

The more notable level to take note of is the 200-week moving average @ 0.7253. That will be a key level to watch ahead of the closing stages this week tomorrow.

For now, it is all about the wait as we continue to count down to Powell later today.