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EUR/USD edging higher after confined Asian range

On Friday the EUR/USD was unable to make any lasting progress into the weekend and it later closed the week below its 200 day moving average. That is still unchanged by the way, at 1.0828 and that speaks volumes about the overall direction of the Euro at the moment. The EUR/USD closed on Friday at 1.0821 and that price point was defined as an approximate mid-point of the Asian range seen earlier today (1.0813-1.0833). However, since the European opening the Euro has managed to grind a little higher. That is largely due to a rebound in the EUR/GBP and gains in the EUR/JPY. The high seen a moment ago was set at 1.0847
 

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