EUR/USD pivotal around 1.0840 ahead of the European stock market opening

Yesterday the fall below the noted support at 1.0840 did not extend very far. The low seen was set at 1.0826 and that low was just ahead of a cluster of important moving averages. To update you on those this morning they are in place as follows- The 200 day is currently at 1.0819, the 50 day is art 1.0812 and the 100 day is at 1.0799. The rebound off the lows yesterday saw the Euro reach 1.0867 just ahead of the 4pm London fix. However, the Euro could not hold the rebound and later dropped back to set a US close at 1.0840- back on that Fib level again. The price action so far has hugged that level and remained pivotal around it. So, given all that surrounds the EUR/USD that has been very tight (1.0835 to 1.0846) and we have the EUR/JPY price discovery via the EUR/USD to largely thank for that. At the same time, given the falls in the USD/JPY today, the EUR/USD should have done better. The reader is left to draw their own conclusions on that. The EUR/YSD is currently trading at 1.0840 as it awaits the opening for the DAX and the German IFO index after that