EUR/USD rejects break above technical level at the first attempt

The EUR/USD continued to press higher into the US close on Friday and that saw it reach a session high at 1.0870 just ahead of that weekly close. As suspected though, the EUR/USD was not able to lift above resistance at the noted 200 day moving average, in place then at 1.0872. The EUR/USD later closed out the week at 1.0867. Overnight the EUR/USD has finally tested that 200 day moving average (Still in place at 1.0872), but rejected a break above the level at the first attempt. The range seen so far has been covered by 1.0853 to 1.0872. The latest German PPI data will shortly be released, at 6am GMT and we shall see if that has any kind of impact in a minute or two. The EUR/USD is right now trading at 1.0860