U.S. session traders are pushing the dollar lower as risk sentiment improves ahead of the stock market open. Equity futures are pointing to strong gains, with the S&P 500 up 78 points (+1.33%), Dow futures higher by 487 points, and NASDAQ futures up 318 points.
In the EURUSD, an early dip tested the rising 100-hour moving average at 1.1345, but bearish momentum quickly faded. The pair rebounded to an intraday high of 1.1373 in U.S. trading.
On the topside, the next key level is the 61.8% retracement of the April–May decline, which comes in at 1.1378. That level also aligns with a prior swing high from late April, reinforcing its technical significance (see red circles on chart). A break above would open the door for further bullish momentum.
The USDJPY is moving down and away from the 200 hour MA at 144.37 and the 50% midpoint of the move up from the April low at 144.257
