EUR/USD edging closer to 1.10

Several updates here yesterday noted the open path for a test of the 1.10 handle in the EUR/USD. Well, its has not gotten there yet, but the Euro has fallen closer to doing so. The further rebound in the USD/JPY, just noted in the previous update has been one driver and the slide in the GBP/USD has been another, notwithstanding a corresponding rise in the EUR/GBP that has come as a result of the fall in the GBP/USD. The EUR/USD has now dropped below the noted 50 day moving average, which had capped the downside for the past couple of days. That is still rising and in place right now at 1.1045. The low seen so far this morning has been set at 1.1025. Other reasons for the fall in the EUR/USD were outlined here clearly yesterday and so not repeated here today, but remain intact. The EUR/USD is currently trading at 1.1027