The dollar is down across the board again today and it's been a tough week so far to start the new month. GBP/USD is leading the charge today, moving up by 0.5% to 1.3285 - its highest in five weeks. But if anything, do keep a close watch on EUR/USD as it nudges back up to 1.1660 currently. The pair is starting to test a run above its 100-day moving average (red line) of 1.1643, a key level that has held back the upside bounces since later October.
Besides that, USD/CAD is also dribbling lower under 1.4000 to close in on its own key daily moving averages at 1.3896-15. Meanwhile, AUD/USD is up 0.4% today to 0.6586 - its highest since 30 October in breaking the November high of 0.6580.
Putting the charts together, the dollar looks poised to be tested further to the downside given the momentum to start December trading. From this week:
