Dollar pinned lower to start the session | Forexlive

The dollar is lower across the board as we get into European morning trade, with EUR/USD now up 0.3% to 1.0955 and GBP/USD up 0.4% to 1.2420 on the day. Even the antipodeans are joining in, with AUD/USD up 0.5% to 0.6735 and NZD/USD up 0.4% to just above 0.6200 at the moment.

There’s not much in terms of headlines but essentially, this signals more of a push and pull mood in markets after last week’s action. The dollar looked set for a break lower at the time but held on right at the edge, before dragging itself back up as seen on Friday and in trading yesterday.

EUR/USD is making a bit of a stand with the 100-week moving average at 1.0935 in focus. The pair is now pushing back above its 200-hour moving average at 1.0945 and this puts the near-term bias to be more neutral (price still below the 100-hour moving average at 1.0990), with buyers and sellers set to duke it out for now.