EURUSD H1 29-03

There's been some back and forth trading in the dollar during the session but we're now seeing the euro push higher upon a break of its 200-hour moving average (blue line) @ 1.1018 earlier. There are large option expiries that are hanging around 1.1000, so I would still be mindful of that but the technical picture suggests a potential break higher for the pair.

There is some minor resistance around 1.1040-45 but beyond that, buyers have a clear path towards retesting 1.1100 next.

I don't see any headlines that is contributing to the jump in the single currency, with EUR/GBP also marked higher by 0.6% to 0.8440 currently.

It's just some push and pull as flows are dictating the state of play so far on the session. The dollar was initially lower before paring that slight losses and then is back lower again now. Elsewhere, equities are keeping firmer with European indices rallying by nearly 2% across the board. Meanwhile, bond yields are still pushing higher with 10-year bund yields also up over 10 bps to 0.69%.