Dollar gives back some gains to start the session

The greenback is lower across the board as it surrenders some of its overnight gains with EUR/USD now moving up to 1.2067 from 1.2040 levels earlier in the day.

Meanwhile, GBP/USD has also broken free of its key near-term battle as buyers push past 1.3900 to establish a more bullish bias at the moment.

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Elsewhere, AUD/USD has also moved up to 0.7775 from 0.7750 earlier as buyers look to push past its 100-hour moving average (red line) and yesterday's high of 0.7772.

That said, key resistance remains at 0.7800-20 from the highs earlier this year and that is still the key line in the sand limiting any further upside momentum in the pair.

There is still a major push and pull ensuing with the dollar in the past two weeks and while the greenback has shown some fight in the last two days, things are still keeping rather vulnerable for the dollar at this juncture.



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