The choppy trading in the dollar continues
EUR/USD is now paring back earlier losses, rebounding from a low of 1.0841 to 1.0875 currently, as the greenback gives up gains on the day.
The dollar is also losing ground against the aussie and kiwi, with AUD/USD rising to 0.6380 while NZD/USD is at 0.6065 at the moment - both trading higher against the dollar.
That said, the ranges for the day are still relatively modest with little material extension as of yet. The risk mood remains tepid with European stocks having seen its earlier gains pared for the most part while US futures remain about 0.9% lower.
For EUR/USD, there is some minor resistance around 1.0880-90 but the key level to watch in any upside turn will be the 100 (red line) and 200-hour MAs (blue line), which are trading at 1.0897 and 1.0905 respectively now.
