Dollar keeps more mixed in European trading so far

Technical Analysis

Author: Justin Low | usd

Dollar holds more mixed on the session

The greenback was lightly weaker earlier on in the day but has trimmed losses against commodity currencies and is keeping a mild advance against the euro and pound now.

EUR/USD was trading around 1.1650 at the tail-end of Asia Pacific trading but has fallen to 1.1620-30 at the moment:

EUR/USD H1 20-10
The pair is close to testing its 100-hour moving average (red line) @ 1.1613 so keep an eye out for that in terms of key near-term levels in the sessions ahead. Hold above and the near-term bias stays more bullish but break below and the bias turns more neutral instead.

Cable has also fallen from 1.3810 to 1.3770 and is keeping near the lows for the day as outlined here earlier.

Elsewhere, USD/JPY has trimmed its advance from 114.60 to 114.35-40 at the moment so there is some mixed sentiment playing out in European morning trade.

European indices have brushed aside the softer open earlier to keep mildly higher while US futures are little changed on the session currently. Meanwhile, 10-year Treasury yields are flat around 1.644% though down from around 1.667% earlier in the day.

AUD/USD is knocking on the door of the 0.7500 level but is now down to around 0.7480-90 while USD/CAD is holding around 1.2340 levels, keeping below its 100-hour moving average at 1.2366 as sellers maintain near-term control for now.

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