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Dollar still on the defensive heading into the penultimate 4pm London Fix of the month

The EUR/USD has not really backed off much at all this afternoon and as the markets now head into the penultimate 4pm London fix of the month, the EUR/USD is close to session highs. Perhaps the important thing to note here was the earlier holding above its 200 day moving average (at 1.0786). That major support was outlined here much earlier today. The low seen then was at 1.0788. Perhaps the Euro is now set to push back to the 1.0850 pivotal level once more? Well, it sure seems that way right now and US yields are not rebounding yet this afternoon. That is supporting the move to 1.0840, reached just a moment ago. The EUR/USD is currently trading at 1.0837
 

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