The dollar is higher to start European trading today
EUR/USD has eased back to just under 1.2300 to start the session as the dollar is keeping slightly firmer across the board currently.
The push higher comes as we see USD/JPY also post a modest advance above its 200-hour moving average to near the highs from yesterday close to 103.40 as Treasury yields are keeping higher on the session.
Elsewhere, AUD/USD is down 0.4% to 0.7770 and backing away from some minor resistance around 0.7800-10 for the time being.
Going back to EUR/USD, the drop so far isn't of much technical significance with the brief pullback overnight having been more extensive.
That saw price action move to test the 100-hour moving average (red line), where buyers put up a defense and that will be the key near-term level to watch in case we do see the dollar gain further momentum in the session ahead.
That level is now seen @ 1.2280 with some near-term support 1.2266-77 also in play.
