EUR/USD sellers look to try and seize near-term control
Despite calmer tones in the market so far in European morning trade, the dollar is still keeping bid as there is still an air of uncertainty ahead of US trading later.
EUR/USD is pushed to fresh session lows @ 1.2123 and is testing trendline support as well as its 200-hour moving average (blue line) @ 1.2127. Hold a break below and sellers will seize near-term control after prior attempts earlier in the week falling short.
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As much as the dollar is keeping firmer so far today, a lot still rides on the overall market sentiment and how the bond market plays out ahead of the weekend.
US futures are testing the waters by creeping higher but the gains are nothing in comparison to the drop yesterday – not to mention keeping close to flat levels.
Meanwhile, Treasury yields are still looking fidgety despite keeping a little lower today with 10-year yields hovering around 1.46-48% for the most part.