The USD is trading lower against the three major currency pairs—EURUSD, USDJPY, and GBPUSD—to kick off the North American session.
The EURUSD has moved higher over the last hour of trading and, in the process, climbed back above its converged 100- and 200-hour moving averages at 1.1632
The pair reached a session high of 1.1645. Staying above those key moving averages, along with the 50% midpoint at 1.16287, gives buyers the technical edge in what has otherwise been choppy, two-way trading. Earlier today, sellers tested but failed to break a longer-term trendline support level near 1.1595.
That failure gave buyers the green light to push higher. On the topside, the next key target comes in a swing area between 1.1655 and 1.1667. A break above that zone would open the door toward the 200-day moving average at 1.1681 and the 100-day moving average at 1.16965.