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EUR/USD rebound from below 1.09 is not yet conclusive
Yesterday evening as the Fed minutes came across the wires, the EUR/USD had another look below the 1.0900 handle. It had already slipped below that level right on the 4pm London fix. However, this next time it looked like extending the move lower. In the event it did not do that and the low ahead of the close was set at 1.0893. The Euro later rebounded to close in the US at 1.0922. The reason for the rebound seemed to rest with the US bond markets. Yields had risen after the Fed minutes, but subsequently fell back and that helped the Euro steady. Earlier today the Euro rose to 1.0935, but is has backed off that high now. That high was still short of the current 21 day moving averages which is still rising and in place right now at 1.0945. The EUR/USD is currently trading at 1.0925
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