EUR/USD could have done better on Friday and it is lower this morning

As reported here on Friday afternoon, the knee-jerk reaction in the dollar to the US jobs report allowed the EUR/USD to rise above 1.0600 for the first time since finding a base at 1.0335 on November 22. The high came immediately after the release of that US data, at 1.0630 and from there on it was one-way traffic heading south into and after the European close The Euro did lift from a low then, at 1.0542 and later close at 1.0568- hardly a ringing endorsement for encourage Euro bulls. The EUR/USD had closed on Thursday, at 1.0586. So, of course the Euro did not even come close to testing the noted important resistance level on Friday, at 1.0685. Can it do better this week? Well, it is not making a good job of that Asia today and we have important US CPI data due out on Wednesday and that could certainly have an impact on the dollar, ahead of the Fed monetary policy decision a week later, on December 18. The range seen so far has been covered by 1.0532 to 1.0570. It is currently trading at 1.0538