Dollar a little lower this morning- can the EUR/USD rebound further?

The dollar has lost a little bit of traction this morning. That is well demonstrated by the price action in the EUR/USD over the past 24 hours. Yesterday the EUR/USD fell back sharply into the US opening as US yields punched higher. The Euro dropped to a low at 1.0769, but it did later rebound into the US close, ending the session at 1.0819. It has held that gain so far today, reaching a high right now at 1.0826 and that is just above the high seen yesterday, at 1.0826. The current chart dynamic suggests this might extend the move further and perhaps towards a major technical level in place this morning, at 1.0869. That is where the 200 day moving average now resides and that has capped the topside for thew Euro since October 17. As to whether the Euro can move closer to that level surely rests with how those US yields fare today and as reported earlier, they are off the boil this morning. The EURUSD is currently trading at 1.0822