The pair sits near the lows for the day as the dollar holds a slight advance
The dollar is posting a slight advance once again ahead of North American trading, with EUR/USD now trading back towards the lows around 1.2174.
The pair looks to be struggling to get above 1.2200 with large option expiries also one to take note of before they roll off later in the day.
Just above that is the confluence of the key hourly moving averages @ 1.2210-15. Keep below that and sellers are still in near-term control of the pair for now.
Further support is seen closer to the current swing region around 1.2172-77 before getting to the swing region at 1.2160. A break below the latter in particular may pave the way for the pair to dip back towards 1.2100 potentially where further stops lie.
For now, all eyes will turn towards the US PCE data later to provide a catalyst – even if it is just for a knee-jerk one perhaps.
This article was originally published by Forexlive.com. Read the original article here.