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EUR/USD edges back from a push above 1.0600- will it rebound again?
The EUR/USD did rebound again yesterday and that rebound saw it push above the 1.06 handle ahead of the US close. The Euro peaked at 1.0607 and later closed at 1.0598. The price action so far today has seen the Euro edge a little lower. The range seen so far has been covered by 1.0583 to 1.0601. At this stage the reader is reminded of the important level higher up, at 1.0685 and anything in between that point and the recent low is not conclusive at this stage. That is to say the EUR/USD can do whatever it likes inside 1.0497 ands 1.0685 without shifting the dial. Given the drop back in US yields since yesterday, the Euro could arguably have done better. Once again it seems the USD/JPY will hold the key, as to whether it can today. We shall see. The EUR/USD is currently trading at 1.0590
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