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EUR/USD grinds higher in early European trading

The noted drop back in the US dollar index today, covered here a short while ago has afforded the EUR/USD some modest upside this morning. The EUR/USD had closed in the US last night 1.0765, after falling close to 1.0740 earlier in the day. There is some quite important German data due out later this morning, which might add, or detract from the current modest rebound to above 1.0780 this morning. That is due out at 10am GMT and it is the latest ZEW, economic sentiment index. There will be more to add on that a little later on. Meantime, the EUR/USD, whilst higher, is still very much rangebound in inside interim parameters, covered by 1.0725 and 1.0825. The top end of that range  being where the 200 day moving average is in place this morning. The EUR/USD is just now trading at 1.0778
 

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