The dollar is keeping slightly weaker on the day and we are seeing some decent moves now with EUR/USD climbing to 1.1020 while GBP/USD is also testing waters above 1.2500 again. These are two pairs that I highlighted earlier in the day here, as the dollar sits on the brink of another potential leg lower.
It will be important to see if EUR/USD can sustain a daily break above 1.1000 with the February high at 1.1032 also preferably cleared to reinforce the upside momentum. If the move holds, the 100-week moving average at 1.0947 looks set to broken and that could also keep buyers interested in a chase to 1.1200 next.
