EUR/USD moves back up as the dollar erases earlier gains on the session
The dollar is turning back lower after a bit of an advance earlier on, with commodity currencies creeping higher and cable also back above 1.4000.
Looking at EUR/USD, price is back to little changed around 1.2127 as buyers kept a defense of the 100-hour moving average (red line) at the lows around 1.2091 earlier.
Price then pushed back above the 200-hour moving average (blue line) and that sees buyers establish more near-term control on the session, though there is some minor resistance closer to 1.2136-44 from last Friday's highs for the time being.
There is still some modest resistance around 1.2150 on the daily chart and that will be the key line in the sand to watch if the dollar is to slip further to start the week.
