Dollar pushes higher as risk turns more defensive to start European trading

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

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