The dollar eases a little as US futures pare losses
AUD/USD is seen climbing back above its 100-hour MA (red line) in a move back to 0.6900 as US futures pare losses to start European morning trade.
S&P 500 futures are up 0.1% while Dow futures are now flat after seeing slight declines in Asian trading earlier. That said, this is still mostly looking to be part of the push and pull in the risk rhetoric over the past few sessions.
For AUD/USD, keep above the 100-hour MA @ 0.6877 and the near-term bias stays more neutral. There is some mild resistance from the swing region around 0.6900 but the 200-hour MA (blue line) offers more of a key resistance area @ 0.6928.
For sellers, the key would be to work their way back under the 100-hour MA before targeting the lows yesterday around 0.6834-44 to try and extend any downside pressure.
Right now, the "caught in the middle" price action sort of resembles the tug of war in the risk rhetoric as well. So, the key will be to watch which side starts to win out with price action needing to break out on either side of the key near-term levels above.
