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EUR/USD pressing a little higher so far today

The EUR/USD is a little higher this morning, but not materially so. On Friday the EUR/USD did come off its earlier lows and marginally recovered some of the ground it had ceded, when it slumped after the ECB rate increase the day before. The reason for that slump was all about the ECB likely reaching the end of its tightening cycle this side of the new year. The EUR/USD fell to as low as 1.0632 on Thursday afternoon. The rebound on Friday saw it rise to as high as 1.0688 and later post a weekly close at 1.0657, after giving up on most of those gains. It is a little higher this morning though, rising to a session high a short while ago, at 1.0678. As to whether it can make further headway remains an open question. The range today has been covered by that high and an earlier low at 1.0660. It is just now at 1.0675
 

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