Dollar pushes higher as risk turns more defensive to start European tradingpetar skakalov
Risk aversion is starting to kick in on the session
The dollar is turning higher now, with EUR/USD slumping to a fresh low of 1.1822 back below its 200-hour moving average as sellers are looking to seize near-term control.
This comes as European equities turn lower alongside US futures, with the DAX now down by 0.9% while S&P 500 futures are down by 0.5% on the day.
Elsewhere, 10-year Treasury yields are also down by 2 bps to 0.85% currently.
The more defensive risk push is keeping the dollar and yen underpinned as we also see GBP/USD fall to test support close to 1.3200-10 currently and AUD/USD is also looking to slip below its 200-hour moving average of 0.7285, testing support @ 0.7272.
Meanwhile, USD/CAD has also risen back above 1.3100 as buyers look to push for a more bullish near-term bias on a break above its 100-hour moving average @ 1.3098.
Source: Technical analysis