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EUR/USD is up 0.3% just above 1.2070 on the day
The pair managed to lean on some swing region support @ 1.2020-24 amid the drop yesterday with the daily close keeping above the 61.8 retracement level of the recent swing move higher this month @ 1.2035.
The turnaround today comes as the dollar is seeing slipping across the board but so far the gains are roughly only half of the push lower seen yesterday.
In any case, from a technical perspective, the slight nudge higher today isn’t quite amounting to much just yet as sellers keep near-term control in the pair.
The key near-term levels to watch for any upside move are still the key hourly moving averages and they are seen converging at around 1.2102-03 at the moment.
Keep below that and sellers continue to keep a more bearish near-term bias but break above that, and buyers will switch things around and establish a more bullish bias.
As much as the dollar is giving up some ground on the day, there is a lot of push and pull going on with the greenback amid the focus on long-end Treasuries as well.