AUD/USD and EUR/USD pushes to session highs
AUD/USD touches a high of 0.7434 on the session as the dollar index now falls by more than 0.2%. The pair is now closing in on a test of last week's high @ 0.7441 but first needs to navigate through a minor resistance level at 0.7434 currently.
Meanwhile, EUR/USD is also pushing higher and moves closer to a test of the 1.1600 handle with the 100-hour MA (red line) lurking nearby at 1.1599. Further resistance is then seen at Friday's high at 1.1611.
Across the board, the dollar is slipping with USD/CAD also touching a low of 1.2969 on the day while NZD/USD is at the highs of 0.6754. It's been a session mainly dominated by flows and the dollar's weakness is coinciding with a more risk-on tone in the market.
It started off with Chinese equities pulling off a late surge to close at the highs and now we're seeing more of that in European trading too. The DAX is now 1.0% higher and regional equities are all posting solid gains as well trading near the highs.
This has seen USD/CNH fall further as well and is likely putting further pressure on the dollar in the session.
