EUR/USD falls to 1.2105 and nears a test of its 100-hour moving average

The greenback is higher across the board in European morning trade and is starting to run against some key levels on the charts today.

EUR/USD H1 12-02

Of note, EUR/USD is now down to near 1.2100 as price closes in on a test of the 100-hour moving average (red line) @ 1.2103.

Keep above that and the near-term bias stays more bullish but break below and the near-term bias becomes more neutral instead. Further key support is then seen closer to the 200-hour moving average (blue line) @ 1.2060.

If sellers can manage that, it essentially resets the upside momentum seen this week.

Elsewhere, the dollar is also putting up a decent showing with USD/JPY keeping a bounce from its 100-day moving average to 105.00 now - testing key levels. Meanwhile, AUD/USD is also falling to test its own 100-hour moving average @ 0.7726 currently.