The greenback slips to a session low to start European morning trade
The dollar is seen easing across the board alongside the yen, as the market is keeping a calmer approach to start the session. European indices are chipping away at earlier losses and trying to keep in positive territory while S&P 500 futures are up ~0.4%.
That is seeing the greenback pare some of its overnight gains, with EUR/USD rising to 1.1760 as buyers are looking to seize back near-term control currently:
The push higher yesterday stalled at 1.1800 before Trump's stimulus tweet sent the pair below its 100-hour MA (red line) and switched the near-term bias to being more neutral.
But as we get the session underway, buyers are pushing back above the key near-term level to try and reestablish a more bullish near-term bias to try and focus on 1.1800 again.
Elsewhere, the dollar is also down to a session low against the pound with cable up to 1.2923 and AUD/USD is up by nearly 0.6% to 0.7142 currently.
On the latter, the pair has moved back above its 200-hour moving average @ 0.7128 so the near-term bias is now more neutral with resistance then seen closer to the 100-hour moving average @ 0.7165 next.
