EUR/USD has a look at 1.0500 this morning

The rebound in the EUR/USD on Friday afternoon stalled ahead of a noted level, at 1.0448 and later closed in the US at 1.0418. The price action today has seen it rise above 1.0448 and then extend further. The Euro managed to just top the 1.05 handle earlier this morning, peaking at 1.0501. It seems to have run into sellers up there again though and edged back towards 1.0475 since. The major reason for the rebound today seems to rest with the European equity dynamic. It seems like the hitherto rotation out of European stocks has reversed since Friday and the futures prices are higher again this morning. Also, US treasury yields have fallen today and that has not helped the dollar much versus the European currencies. The EUR/USD peaked around that 1.05 handle on Friday, before it crumbled to 1.0335. So, we shall see if something similar might play out today. That is in the balance right now by the looks of it. The EUR/USD is currently trading at 1.0477