EUR/USD trades flat after testing its earlier low on the day
The dollar and yen are seeing gains pare back a little on the session as we see EUR/USD and GBP/USD trade back to flat levels on the day now. EUR/USD tested its Asia Pacific low @ 1.1227 before rebounding back to 1.1255 currently.
That said, sellers are still in near-term control as price action remains well below the key hourly moving averages @ 1.1300-20 at the moment.
Meanwhile, AUD/USD has also seen its earlier decline pared back in a move to 0.6820 from as low as 0.6777 earlier at the start of the session.
The overall risk mood is still negative but not as dire as it was at the opening with European indices keeping near 2% declines and US futures also keeping losses around 2.7% from being as much as nearly 3.5% lower a few hours back.