EUR/USD edges past technical resistance at 1.0640 as Dollar woes continue
Since the outcome of the BOE policy decision a few minutes ago the GBP/USD has extended its move above 1.22, to as high as 1.2217 so far and that has been the catalyst to help the EUR/USD press higher. It has now pushed its way above the 1.0640 noted resistance in place from its 50 day moving average. This is all about dollar weakness and the USD index has fallen closer to the 106 handle. The recent low seen in the index was set at 105.90 on Tuesday and a break below there could set up more downside. The Dollar is in a spot of bother right now as I am sure you can appreciate and that has helped the EUR/USD to extend above that 1.0640 level. Perhaps it has incited some systems based Euro buyers to join in too. The EUR/USD is just now trading at 1.0648 (1.0651 the high so far)
Market News
All News-
DAX has a look above 16,500 and takes one step closer to a new record
Following on from a series of updates this week and last, the DAX has taken one step close to a new record high this afternoon. The DAX has lifted...
-
Dow Jones and Nasdaq flips positions as yields fall and tech rebounds
Ever since the opening for the US stock markets today we have seen a reversal in the divergence between the Nasdaq 100 and the Dow Jones, That is to...
-
GBP/USD takes out double bottom at 1.2604 but rebounds on JOLTS data
Not long before the US economic releases this afternoon, the GBP/USD made a brief move below the noted 1.2604 double bottom on the daily charts. The...
