The dollar is pushing higher against most of the major currencies
Euro area data earlier failed to give the single currency a meaningful lift and we're now seeing EUR/USD ease lower as the dollar is catching more bids as the session progresses.
Notably, the greenback is trading to session highs against the euro, franc, loonie, aussie and kiwi - with EUR/USD testing its 200-hour MA (blue line) as seen above and AUD/USD slipping below 0.6900 and also below its 200-day MA @ 0.6897.
Of note, the pound has also surrendered its earlier gains with cable falling from 1.3190 to 1.3150 levels seen currently.
Back to EUR/USD, it's a tricky spot for buyers now as a break below the 200-hour MA will see sellers regain near-term control and look towards a test of the 200-day moving average @ 1.1141 once again. Break below that and sellers will gain more momentum.
There isn't much notable headlines driving the move here apart from flows but the yen is also considerably stable in light of all of this as bonds continue to keep around flat levels on the day. USD/JPY is still near unchanged levels at 108.37 at the moment.
