Dollar firms a little amid mixed markets in European morning trade

Technical Analysis

Author: Justin Low | eurusd

EUR/USD falls to a session low of 1.1840

EUR/USD H1 06-08
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The pair is backing off another attempt to get above 1.1900 as we see a drop from the figure level to a session low of 1.1840. The dollar is firming across the board as well with USD/JPY rising from 105.45 to 105.65 and AUD/USD easing from 0.7210 to 0.7185.

The pound is the only major currency outperforming the greenback at this stage and that owes much to the BOE earlier in the day but cable is off earlier highs to 1.3145 now.

Despite the dollar holding slightly firmer, it isn't leading to much technically.

In the case of EUR/USD, buyers are still firmly in near-term control as price action is holding above the key hourly moving averages at 1.1783-04. Keep above that and the near-term bias remains more bullish.

Much like the previous days, European morning trade is very much a mixed bag as we see more choppy tones rather than actual firm direction. US traders still hold all the cards as for the more relevant moves in the market in trading this week.

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