The push and pull in risk and the dollar continues this week
The greenback is now keeping mostly little changed on the day, and trading more mixed across the board to start European trading.
EUR/USD is just off earlier highs of 1.1891 and trading near flat around 1.1870 with resistance at 1.1900 still keeping a lid on things this week.
Buyers are keeping near-term control as price action holds above the key hourly moving averages @ 1.1813 and 1.1858, so those will once again be key levels to watch in case of any further downside shove later in the day.
AUD/USD is keeping just under 0.7300 for now as price action is caught in a battle between the key hourly moving averages @ 0.7284 and 0.7299.
Keep above that region and the near-term bias turns more bullish but near-term resistance closer to 0.7340 is still limiting gains since last week.
Meanwhile, keep below that and sellers will see more near-term control but there is some minor support from yesterday’s lows closer to 0.7250-55.
USD/CAD has also backed away from a push above 1.3100 and is now trading back below its key hourly moving averages.
Stay below that and the near-term bias is more bearish but there is some support seen around current levels at 1.3060 and the Wednesday low of 1.3034.
Elsewhere, USD/JPY is continuing to keep below 104.00 for the time being after a brief push above the figure level quickly corrected as the bond market continues to fade all the vaccine optimism since last week.
Keep below 104.00 and sellers stay in more control for a potential push back towards the lows at the start of the month near 103.18.