Dollar trades slightly weaker on the session

Technical Analysis

Author: Justin Low | usd

The push and pull continues for the dollar

The greenback did well to recover after the US CPI report yesterday but there is some slight softness today in European morning trade, though ranges among major currencies are still nothing extravagant or too significant for now.

EUR/USD is up slightly by roughly 20 pips to 1.1823 but the technical picture remains very much the same as the start of the week.

Even the light nudge higher in AUD/USD so far on the session to just above 0.7330 isn't amounting to much as the near-term downside bias is still intact with price action below the 100-hour moving average (red line):

AUD/USD H1 15-09

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Elsewhere, the dollar is seen slightly softer against the likes of the pound, loonie and kiwi too but nothing too outstanding.

USD/JPY is arguably the notable mover as the pair slips to a one-month low of 109.28 but even then, price action is still largely contained for the time being.

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