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EUR/USD avoids a weekly close below 1.0700 but you need to read the next update

Later on Friday afternoon the rebound in the dollar extended further and that saw the EUR/USD drop all the way back underneath the 1.0700 handle again. The low seen was set at 1.0687 and so just avoided a fall below the low seen on Wednesday, when it fell to 1.0683. The modest rebound into the US close on Friday saw it end the week at 1.0718. It was also noted here on Thursday and Friday; that the rebound above 1.0800 was correctional and dynamic to a lasting move higher and the price action that you saw unfold later on Friday did rather endorse that. Please read the very next update on the EUR/USD for more colour on the outlook
 

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