EUR/USD continues to track lower

Since the last update here, the EUR/USD has continued to track lower and just now it is approaching the 1.0550 mark. The move lower comes as the USD/JPY extends its move higher, closer to the 156 handle once more. The GBP/USD has also fallen back further since the last update here noted its failure to move above 1.2720. The Pound has traded down to around 1.2665 since then. The failure of the Euro to make a bolder move beyond 1.06 is once again testament of the underlying dollar trend, which remains firmly to the upside, despite the potential for the odd reversal at times, as seen over recent sessions. That said, we should not rule out more of the same, but the trend is still lower for the Euro folks and unless back above 1.0685 on a sustained basis, it will remain that way. The EUR/USD is currently trading at 1.0558