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EUR/USD edges back ahead of the European opening

As expected here yesterday and mentioned earlier in the day, any drop back in the USD/JPY from close to the 145 handle would likely help the EUR/USD to push higher and closer to the 1.10 area again. Well, that did happen, but the Euro was unable to really put that price point to the test, as it stalled at 1.0987. So, the existing double top on the daily charts (1.1019 and 1.1009) was not threatened either and has continued to cap the topside for the time being. The EUR/USD later closed in the US at 1.0981. It has drifted back down so far today. The reason for that would seem to rest with corresponding fall in the EUR/JPY since topping out at 158.57 yesterday. The low seen so far today on the EUR/USD has recently been set at 1.0956. The first support level lower down is now at 1.0915 and of course there is the high yesterday at 1.0987 in the other direction. The EUR/USD is currently trading at 1.0958

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