EUR/USD edges higher as Dollar slips

Following on from the previous update, the USD index has now slipped below the noted technical support level, at 103.69 and that has allowed the EUR/USD to creep past the high seen yesterday. The Euro topped out at 1.0860 and later closed in the US at 1.0851. The EUR/USD has just this minute printed a session high at 1.0863. So, as you can see it is not exactly racing away. The USD/JPY is still leading the way and allowing some modest gains in the EUR/USD. The USD/JPY has just hit fresh session lows underneath 150.40. The next technical resistance level on the EUR/USD is now at 1.0882, where that 50 day moving average kicks in today. If you remember, it was the rejection of that price point, when it was at 1.0888 last week, that caused a reaction lower. The EUR/USD is currently trading at 1.0859