Dollar recoups some ground, equities slightly softer on the session so far

Technical Analysis

Author: Justin Low | usd

The greenback pares most of its earlier losses on the session

EUR/USD has slipped back to 1.2104 currently, after having posted a session high of 1.2139 earlier as the dollar gave up further ground in early trades.

The greenback is now paring that earlier decline as we also see AUD/USD turn flat at 0.7415 after having risen to a high of 0.7437 at the start of the session.

For EUR/USD, price action is now caught in a push around the 23.6/76.4 retracement level @ 1.2103 again but as long as the pair keeps above 1.2000, there is little to suggest any imminent breakdown in the topside momentum in the big picture.

EUR/USD D1 03-12
Elsewhere, European equities are down near session lows now with the DAX seen lower by 0.6% while S&P 500 futures are also lingering near session lows, down by 0.2%.

There is a slight pullback in the risk mood with 10-year Treasury yields also down to the lows for the day around 0.931% currently.

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