The greenback makes a comeback
The dollar index is virtually flat on the day recovering to 95.20 after having tested the 95.00 level in trading earlier. The bid in the dollar has seen EUR/USD fall from 1.1600 levels to now close in on a test of the 100-hour MA (red line) @ 1.1583.
The high today for the pair reached 1.1628, just shy of the 200-hour MA (blue line) @ 1.1631.
The greenback is gathering some steam across the board as it erases earlier losses against the aussie and swissie as well. Only the kiwi and the yen are still leading against the dollar, but the former has also erased most of its earlier gains too.
I'm not seeing much else to have caused the move but the dollar index has shown some resilience over the last couple of sessions when moving towards the 95.00 level:
So, one can argue that buyers leaned on that level to support the dollar in this case.
