EUR/USD eases back below 1.1900 as dollar firms ahead of European trading

Technical Analysis

Author: Justin Low | eurusd

EUR/USD falls to a low of 1.1893 on the day

EUR/USD D1 09-04
The greenback is catching a bit of a bid as Treasury yields keep a little higher ahead of European morning trade. 10-year yields are up 2.7 bps to the highs for the day at 1.646%, moving off the low seen earlier at 1.619%.

US futures have also pared its slight advance earlier with Nasdaq futures turning negative after holding gains of around 0.3% at the end of Asia Pacific trading.

This is seeing the dollar more bid across the board with EUR/USD easing back under 1.1900 but price is at least keeping above its 200-day moving average (blue line) @ 1.1886.

That will be the key line in the sand for buyers to defend ahead of the weekend.

Elsewhere, AUD/USD is down 0.5% to 0.7613 as price chops back below the key hourly moving averages @ 0.7623-38. Further support is seen near the week's lows @ 0.7592-00.

USD/CAD is also pushing to session highs, climbing from 1.2570 to 1.2590 and pushing above its own key hourly moving averages as well. There are large expiries for the pair at 1.2600 so keep that in mind alongside further resistance @ 1.2629-47.
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