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EUR/USD rebound extends by around 100 pips now- is that enough?
Since sliding to a low at 1.0335 earlier this morning the EUR/USD has been retracing that fall and just now it managed to push back up by around 100 pips, as it lifts to around 1.0435. The next potential hurdle and possible resistance level is the 2023 low it busted through earlier, at 1.0448. That price point was noted here much earlier on and it did not provide any support on the way down, so it is by no means certain it will offer much in the way of resistance on the way back up. We shall see on that in due course, if it gets put to the test. The only question from here on now today, is will sellers re-emerge on this rebound, assuming they are not all done and dusted already. The EUR/USD is still a sell on rallies though, as we have seen for weeks now. It is currently trading at 1.0427
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