Dollar falls as the market leans more risk-on

EUR/USD climbs to fresh highs since 17 March

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US futures have gotten another nudge higher alongside European stocks and that is pushing the dollar weaker across the board once again on the session.

EUR/USD is now trading to a high of 1.1171, its highest level since 17 March as the dollar slips across the board. AUD/USD is also back up to session highs of 0.6838 after having began the day in a more tepid mood around 0.6790 amid the RBA non-event earlier.

US futures have flipped earlier losses at the start of the session to 0.3% gains now, leading to the dollar to fall against most of the major currencies bloc.

For EUR/USD, price action is now challenging daily resistance from the late March highs at 1.1147-63 and also the 61.8 retracement level @ 1.1167.

Break above that and it paves the way for a move towards 1.1200 next with further resistance seen around the swing region near 1.1240 from the 16 March high.